EUR/USD is struggling to clear the 1.0250 resistance zone. USD/CHF is declining and remains at a risk of a more losses below the 0.9520 level.
Important Takeaways for EUR/USD and USD/CHF
· The Euro is facing a strong resistance near the 1.0250 zone against the US Dollar.
· There is a key bullish trend line forming with support near 1.0200 on the hourly chart of EUR/USD.
· USD/CHF started a fresh decline after it failed to clear the 0.9650 resistance zone.
· There was a break below a connecting bullish trend line with support near 0.9565 on the hourly chart.
EUR/USD Technical Analysis
This past week, the Euro struggled to gain pace for a move above the 1.0250 level against the US Dollar. The EUR/USD pair formed a short-term top and reacted to the downside.
There was a break below the 1.0200 support, but the bulls were active near the 1.0150 level. A low was formed near 1.0141 on FXOpen and the pair is now recovering higher. There was a move above the 1.0180 resistance zone....More info: blog FXOpen