USDCHF rotating lower after corrective move higher stalls ahead of 200 day MA ...Middle East

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The USDCHF stretched higher yesterday to start the trading week, and in doing so moved toward the key 200-day MA/38.2% of the move up from the December 2023 low. Those levels came in near 0.8879 to 0.8883 respectively. The high price reached 0.8867 today (close but still a safe distance from the 200-day MA). Staying below kept the sellers in play. The subsequent move lower is now taking the price back toward an old floor area near 0.8818 – 0.8825 (see red number circles and yellow area on the chart below). Moving below that level would have traders looking down toward the 50% midpoint of the move up from the December 2023 low at 0.8777. Recall from last week the low price tumbled down towar

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Last updated : 30 July 2024 clock 08:16 PM

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USDCHF rotating lower after corrective move higher stalls ahead of 200 day MA ...Middle East

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