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The USDCHF stalls the rally near the 38.2% retracement and moves toward key MA support

The USDCHF moves higher to a new high in the late London morning session. The high price moved up to test the 38.2% of the move down from the June 30 high, and an old rising trend line. Those levels were both broken on Friday, but failed. The buyers had their shot. They missed. Today, those technical levels found willing sellers (sellers leaned), and the price of the USDCHF moved lower.The move lower has seen the price approach the 100 and 200-hour MAs. The 100-hour MA is at 0.86586. The 200-hou... Read More

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Content Topics

Usdchf

Stalls

Rally

Near

38 Retracement

Moves

Toward

Support

Forex

Posted: Jul 31 2023, 15:43

Author Name: forexlive

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