Market Analysis: EUR/USD Pushes Up, USD/CHF Slips Further Under Pressure
EUR/USD started a fresh increase above 1.1750 and 1.1780. USD/CHF declined further and is now struggling below 0.7900.
Important Takeaways for EUR/USD and USD/CHF Analysis Today
- The Euro started a decent increase from 1.1700 against the US Dollar.
- There is a key bullish trend line forming with support near 1.1780 on the hourly chart of EUR/USD at FXOpen.
- USD/CHF declined below the 0.7920 and 0.7900 support levels.
- There is a key bearish trend line forming with resistance near 0.7905 on the hourly chart at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.1700 zone. The Euro cleared the 1.1750 barrier to move into a bullish zone against the US Dollar.
The bulls pushed the pair above the 50-hour simple moving average and 1.1780. Finally, the pair tested 1.1800. A high was formed near 1.1808 and the pair is now consolidating gains above the 23.6% Fib retracement level of the upward wave from the 1.1703 swing low to the 1.1808 high.
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
EUR/USD started a fresh increase above 1.1750 and 1.1780. USD/CHF declined further and is now struggling below 0.7900.
Important Takeaways for EUR/USD and USD/CHF Analysis Today
- The Euro started a decent increase from 1.1700 against the US Dollar.
- There is a key bullish trend line forming with support near 1.1780 on the hourly chart of EUR/USD at FXOpen.
- USD/CHF declined below the 0.7920 and 0.7900 support levels.
- There is a key bearish trend line forming with resistance near 0.7905 on the hourly chart at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair started a fresh increase from the 1.1700 zone. The Euro cleared the 1.1750 barrier to move into a bullish zone against the US Dollar.
The bulls pushed the pair above the 50-hour simple moving average and 1.1780. Finally, the pair tested 1.1800. A high was formed near 1.1808 and the pair is now consolidating gains above the 23.6% Fib retracement level of the upward wave from the 1.1703 swing low to the 1.1808 high.
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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