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Bears on dollar/franc pair are trying to take over the initiative

2012-06-26
There is no point to say that dollar/franc pair had a restful day yesterday. Nonetheless, dollar was trying to grew yesterday to 0.9570, but it faced offers at 0.9630 level and steadily went down to 0.9590. It is hard to call it movement, but the resistance at 96th figure was overcome eventually, this worsens Swiss currency condition. But it is premature to talk about stable current upward dynamics, as bulls need to overcome and settle above resistance at 0.9660. Loosing of 0.9560 support will give bears a chance to test 95th figure.
Author: James Harrison, IAFT Analyst

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