EUR/USD extended decline and tested the 1.0000 support. USD/JPY is rising and might continue to gain pace towards the 140.00 resistance
Important Takeaways for EUR/USD and USD/JPY
· The Euro started a fresh decline and even tested the 1.0000 support.
· There is a major bearish trend line forming with resistance near 1.0035 on the hourly chart of EUR/USD.
· USD/JPY gained pace after it broke the 136.00 resistance zone.
· There is a key rising channel forming with support near 135.70 on the hourly chart.
EUR/USD Technical Analysis
This past week, the Euro started a major decline from well above the 1.0500 level against the US Dollar. The EUR/USD pair declined below the 1.0320 and 1.0250 support levels.
The bears even pushed the pair below the 1.0100 level. There was a close below 1.0100 and the 50 hourly simple moving average. It tested the parity zone and a low is formed near 1.0000 on FXOpen...More info: blog FXOpen
