Midday Report

The dollar versus swissy pair reached the awaited correction levels between 1.0420 and 1.0480, wherethe pair issupposed to reverse fromand resume the short term bearish wave. From here, we hold onto our morning expectationsfor the intraday downside movefor today; the first target is around 1.0300, while trading shouldremain below 1.0550 to achieve the expected downside move.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0700.

The general trend is to the upside (so far) as far as 1.1225 remains intact with targets at 1.9600.

RecommendationBased on the charts and explanations above our opinion is selling pair from 1.0480 To 1.0340 and stop loss above 1.0550, might be appropriate