EUR/USD is eyeing an upside break above the 1.0750 resistance zone. EUR/JPY is rising and might climb further higher above the 142.50 resistance.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a fresh increase above the 1.0650 resistance zone.
· There is a key contracting triangle forming with resistance near 1.0745 on the hourly chart.
· EUR/JPY started a strong increase and settled above the 142.00 support zone.
· There is a major bullish trend line forming with support at 141.20 on the hourly chart.
EUR/USD Technical Analysis
The Euro formed a base above the 1.0500 zone and started a decent increase against the US Dollar. The EUR/USD pair was able to clear the 1.0550 and 1.0580 resistance levels.
There was a clear move above the 1.0650 level and the 50 hourly simple moving average. The pair even climbed above 1.0700 and traded as high as 1.0760 on FXOpen. Recently, there was a downside correction below the 1.0750 support zone...More info: blog FXOpen
