Market Analysis: EUR/USD Targets More Upside As USD/CHF Turns Higher Again
EUR/USD started a downside correction from 1.1650. USD/CHF is rising and might aim for a move toward 0.7880 or 0.7900.Important Takeaways for EUR/USD and USD/CHF Analysis Today- The Euro struggled to clear 1.1650 and corrected gains against the US Dollar.
- There is a key bullish trend line forming with support at 1.1630 on the hourly chart of EUR/USD at FXOpen.
- USD/CHF is showing positive signs above the 0.7830 zone.
- There was a break above a connecting bearish trend line with resistance at 0.7830 on the hourly chart at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of EUR/USD at FXOpen, the pair gained pace for a move above 1.1600. The Euro tested 1.1650 and recently corrected gains against the US Dollar.
The pair dipped below 1.1635 and the 38.2% Fib retracement level of the upward move from the 1.1588 swing low to the 1.1652 high. However, the bulls were active above 1.1620. There is also a key bullish trend line forming with support at 1.1630.
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOGDisclaimer: 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.
