‘Oversold’ Dollar May Rebound Versus Franc: Technical Analysis
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The dollar may climb from a record low against the Swiss franc as the U.S. currency’s recent decline has been too rapid, Bank of Tokyo-Mitsubishi UFJ Ltd. said, citing a technical indicator.
The greenback’s 14-day relative strength index, or RSI, against the franc fell to 30, matching the level that some traders see as a sign that an asset has declined too quickly and is poised to reverse course. The dollar was about 6 percent from a lower range of the so-called cloud on its ichimoku chart.