Dollar Overbought

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Includes: UDN, UUP
by: Bespoke Investment Group

The sharp rally in the US Dollar index over the last few weeks has put it 4.43% above its 50-day moving average.  As shown in the chart below, the spread between the Dollar and its 50-day is at its highest level since mid-2000. 

While we believe the currency will remain in an uptrend over the next few months, it is probably due for a short-term pullback.

click to enlarge

Dollar50day

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