Midday Report

The dollar versus swissy rushed to the upside, to breach the descending channel's resistance level at 1.0380 and nearing 23.6% correction again. We still hold onto our morning expectationsforan intradaydownside movewith targets around 1.0000; as long as 1.0550 remains intact today's expectationsfor thedownside will prevail.

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.

RecommendationOur morning expectation remains valid