EUR/USD started a fresh decline from the 1.1280 resistance. EUR/JPY is also declining and facing a string resistance near the 128.60 level.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a fresh decline after it failed to stay above 1.1320.
· There is key bearish trend line forming with resistance near 1.1180 on the hourly chart.
· EUR/JPY gained bearish momentum after it broke the 128.80 support zone.
· There is a major bearish trend line forming with resistance near 128.30 on the hourly chart.
EUR/USD Technical Analysis
The Euro faced sellers near the 1.1350 zone against the US Dollar. The EUR/USD pair started a fresh decline below the 1.1320 and 1.1300 support levels.
The pair traded below the 1.1280 pivot level and the 50 hourly simple moving average. Finally, the pair traded as low as 1.1089 On FXOpen and is currently consolidating gains. It corrected above the 23.6% Fib retracement level of the recent decline from the 1.1232 high to 1.1089 low...More info: blog FXOpen
