EUR/USD is struggling to clear the 1.0050 resistance zone. USD/CHF is rising and might climb higher towards the 0.9800 resistance zone.
Important Takeaways for EUR/USD and USD/CHF
· The Euro is facing a strong resistance near the 1.0050 zone against the US Dollar.
· There is a key bearish trend line forming with resistance near 1.0035 on the hourly chart of EUR/USD.
· USD/CHF started a fresh increase after it cleared the 0.9680 resistance zone.
· There was a break above a key contracting triangle with resistance near 0.9682 on the hourly chart.
EUR/USD Technical Analysis
This past week, the Euro saw a major decline below the 1.0000 support against the US Dollar. The EUR/USD pair declined below the 0.9950 support level before the bulls appeared.
The pair formed a base above the 0.9900 level and recently started an upside correction. There was a move above the 0.9920 and 0.9950 resistance levels. The pair climbed above the 1.0000 level and the 50 hourly simple moving average...More info: blog FXOpen
