EURCHF Displays Sustained Bearish Momentum Amid Corrective Pullback Phase

Market Analysis – October 27

EURCHF displays sustained bearish momentum amid corrective pullback phase. EURCHF continues to trade under sustained bearish pressure, with overall market sentiment aligning with the broader downtrend visible on the daily timeframe. The pair remains positioned below the 9-day SMA, reflecting persistent seller control despite a short-term recovery attempt. The MACD histogram stays below the zero line, indicating that downside momentum still dominates as buyers struggle to regain meaningful traction. This technical alignment suggests that any current upward movement is corrective rather than a reversal.

EURCHF Key Levels

Supply Levels: 0.9370, 0.9450
Demand Levels: 0.9210, 0.9150

EURCHF Long-Term Trend: Bearish

Price action shows that the pair recently bounced from the $0.92100 support zone after forming a brief retracement. However, the ongoing recovery is approaching a key supply region marked by an order block (OB) between $0.92620 and $0.92810, where previous bearish activity originated. This area also aligns closely with a descending trendline resistance, reinforcing the potential for sellers to re-enter the market. A failure to close above this zone would confirm continued bearish control.

In the near term, EURCHF is expected to face rejection around the $0.92810 region before resuming its downward trajectory. A break below $0.92440 could accelerate losses toward $0.92100, with an extended decline possibly reaching $0.91500 if bearish momentum strengthens. Unless buyers decisively reclaim territory above $0.93730, the overall outlook remains tilted to the downside, maintaining a bearish bias for the pair.

EURCHF Short-Term Trend: Bullish

EURCHF is showing bullish momentum as price continues to respect the 4H order block zone around 0.9240. The pair is trading above the 9-period SMA, confirming short-term buyer strength.

MACD lines remain above the zero level, supporting the potential for continued upward movement. A rebound from the 4H order block could drive price toward the descending trendline near 0.9320.

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