EUR/USD Might Drop, USD/CHF Gains Bullish Momentum

EUR/USD is slowly moving lower below 1.0750. USD/CHF is rising and might accelerate further higher above 0.9720 resistance zone.

Important Takeaways for EUR/USD and USD/CHF

· The Euro failed to gain pace for a move above the 1.0780 resistance zone against the US Dollar.

· There is a major bearish trend line forming with resistance near 1.0720 on the hourly chart of EUR/USD.

· USD/CHF gained pace and was able to clear the 0.9700 resistance zone.

· There is a key bullish trend line forming with support near 0.9730 on the hourly chart.

EUR/USD Technical Analysis

The Euro gained pace above the 1.0700 resistance zone against the US Dollar. The EUR/USD pair climbed above the 1.0720 resistance zone to move into a bullish zone.

The pair attempted a clear move above the 1.0750 resistance, but the bears remained active. The recent high was formed near 1.0751 before the pair started a fresh decline. The price declined below the 1.0700 level and traded as low as 1.0651 on FXOpen...More  info:  blog  FXOpen