EURCHF Rebound Stall as 50-Day SMA Blocks Further Gains

Monday, 8 July 2024, 11:21

The EURCHF currency pair has been undergoing a strong recovery phase since mid-June, aiming to reverse its significant decline from 2024. However, the recent momentum has been halted as the 50-day simple moving average (SMA) acted as a barrier to further upward movement. This development raises questions about the sustainability of the recovery and the potential impact on the currency pair's future direction.

Actionforex — EURCHF Rebound Stall as 50-Day SMA Blocks Further Gains

EURCHF Rejected at 50-Day SMA

EURCHF has been in a steep recovery since mid-June, attempting to erase the aggressive slide from its 2024 peak.

However, the rebound seems to have been on hold in the past couple of sessions after the 50-day simple moving average (SMA) prevented further advances.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

EURCHF Rejected at 50-Day SMA

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