Dollar Rally Fails Before 50 Day Average against Franc
Prepared by Jamie Saettele, CMT
The sharp reversal just under the 50 day average suggests that the break above the 2/6 high is false and that new lows (below 9088) are around the corner. 9220 and 9245 are near term resistance. The 100% extension at 8794 (200 day average near there) is the objective.
Bottom Line – flat
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