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Dollar looking weak against the Swiss franc

Posted by WorldWideMarkets . on Aug 14, 2013 3:28:00 AM

Despite the dollar’s almost 1 percent gain against the Swiss franc on Tuesday after U.S. retail sales data, there is one nagging sign of weakness. The 50-day simple day moving average in the pair at 0.9364 is about to drop below the 200-day simple day moving average at 0.9354, otherwise known as a Death Cross which occurs when the shorter-term moving average drops below a longer-term term movig average. And despite the golden cross around April 24, when the 50-day SMA rose above the 200-day SMA, which should have been a sign of strength for the greenback, the dollar has lost 1.4 percent against the Swiss franc overall through to today despite periods of strength. Obviously other factors at play in the pair rather than the expectation of Fed tapering driving the franc trading



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