EUR/USD started a fresh rise above the 1.1620 resistance zone. USD/CHF is eyeing an upside break above the 0.9260 resistance zone in the near term.
Important Takeaways for EUR/USD and USD/CHF
· The Euro started a fresh recovery wave above the 1.1600 zone against the US Dollar.
· There is a key bullish trend line forming with support near 1.1605 on the hourly chart of EUR/USD.
· USD/CHF started a decent increase from the 0.9185 support zone.
· There is a major bearish trend line forming with resistance near 0.9250 on the hourly chart.
EUR/USD Technical Analysis
The Euro formed a base above the 1.1530 zone against the US Dollar. As a result, the EUR/USD pair started a fresh increase above the 1.1550 and 1.1560 resistance levels.
The pair was able to clear the 1.1600 resistance and the 50 hourly simple moving average. It even spiked above 1.1650 resistance. A high was formed near 1.1669 on FXOpen and the pair is now correcting lower..... More info: blog FXOpen
