Morning Report

The dollar versus swissy completed forming the bullish technical pattern - neckline for it is at 1.0500 -; therefore making us expect a possible bullish intraday that requires the breach of 1.0500 first to continue; targeting 1.0595 and then 1.0700. Momentum indicators are showing negative signs that might cause some fluctuation before they start the expected ascend. Keep in mind the importance of trading remain above 1.0365 to maintain chances of these expectations prevailing.

The trading range for today is among the key support at 1.0300 and the key resistance at 1.0700.

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

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More Technical Analysis For The Pair

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0420 targeting 1.0500 and stop loss below 1.0365, might be appropriate.