EUR/USD is facing a strong resistance near the 1.0800 zone. USD/CHF is rising and might aim a clear move above the 0.9240 resistance zone.
Important Takeaways for EUR/USD and USD/CHF
· The Euro started a fresh decline from the 1.0800 resistance against the US Dollar.
· There is a key bearish trend line forming with resistance near 1.0750 on the hourly chart of EUR/USD.
· USD/CHF started a fresh increase above the 0.9200 resistance zone.
· There is a major bearish trend line forming with resistance near 0.9240 on the hourly chart.
EUR/USD Technical Analysis
After testing the 1.0650 support zone, the Euro started a steady increase against the US Dollar. The EUR/USD pair gained pace above the 1.0700 level to move into a bullish zone.
The pair even climbed above the 1.0750 resistance and settled above the 50 hourly simple moving average. However, the bears were active near the 1.0800 resistance. It traded as high as 1.0804 on FXOpen and recently started a downside correction….More info: blog FXOpen