Morning Report

The dollar versus swissy continues trading within the minor ascending channel touching resistance for this channel at 1.0245; thus, making us expect a natural reversal, according to trading rules within price channels. Therefore, we expect a bearish direction for today that initially targets support levels between 1.0170 - 1.0150 and then attempts to achieve more pressure to breach these levels and head towards the main target 1.0055. Keep in mind that achieving the four hour close above 1.0245 could weaken chances of achieving the expected bearish direction.

The trading rangefor today is among the key support at 1.0000 and the key resistance at 1.0335.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0245 targeting 1.0150 and stop loss above 1.0300, might be appropriate.