EUR/USD Pulls Back Below 52-Week Average
The EUR/USD pair has pulled back after a four-week rally that saw it rise by over 3.4% from its yearly low.
This recent decline has seen the price slip below its 52-week moving average, which had previously been breached during the upward momentum.
According to Michael Boutros, Senior Market Analyst at StoneX, the pullback structure holds or fails based on specific indicators across multiple time frames.
The rally that lifted EUR/USD above resistance broke through its 52-week moving average before fading into the year's most crowded resistance zone, leading price to slip back below it.