Looking at the EUR forex complex,
EURUSD is up 1.50% today. EURGBP is up 0.87% EURJPY is up 0.745%.Looking at the 4 hour chart, the price rise in EURCHF has seen the price extend above its 200 day MA at 0.94579, and the 38.2% at 0.94803. The highs from 2025 were next breached near 09516 and then the 50% of the move down from the May 2024 high at 0.9566.
The price is currently extending above the July 29 high at 0.9605 and looks toward the 61.8% retracement of the same move down from the May 2024 high at 0.96526.
Going forward, they would likely take a move below the 50% midpoint of 0.95664 to disappointed the buyers (or least lead to more downside probing once again). Until then the buyers remain in control.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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