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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 346897, member: 104606"] [B][SIZE=5]EUR/USD Dives While USD/CHF Extends Rally[/SIZE][/B] [img]https://i.imgur.com/FnfoJHS.jpeg[/img] [I]EUR/USD started a fresh decline below the 1.0695 support. USD/CHF is rising and might aim a move toward the 0.9250 resistance.[/I] [B]Important Takeaways for EUR/USD and USD/CHF Analysis Today[/B] [LIST] [*] The Euro struggled to clear the 1.0750 resistance and declined against the US Dollar. [*] There was a break below a key bullish trend line with support at 1.0695 on the hourly chart of EUR/USD at FXOpen. [*] USD/CHF is showing positive signs above the 0.9185 resistance zone. [*] There was a break above a major bearish trend line with resistance at 0.9130 on the hourly chart at FXOpen. [/LIST] [B][SIZE=5]EUR/USD Technical Analysis[/SIZE][/B] [img]https://i.imgur.com/LbFScbr.png[/img] On the hourly chart of EUR/USD at FXOpen, the pair failed to clear the 1.0750 resistance. The Euro started a fresh decline below the 1.0700 support against the US Dollar, as mentioned in the previous analysis. There was a break below a key bullish trend line with support at 1.0695. Besides, the pair declined below the 50-hour simple moving average and 1.0675. The pair traded as low as 1.0654 and is currently correcting losses. The pair is showing bearish signs, and the upsides might remain capped. Immediate resistance on the upside is near the 23.6% Fib retracement level of the downward move from the 1.0735 swing high to the 1.0654 low at 1.0675. The next major resistance is near the 1.0695 zone or the 50-hour simple moving average. It is close to the 50% Fib retracement level of the downward move from the 1.0735 swing high to the 1.0654 low. An upside break above the 1.0695 level might send the pair toward the 1.0735 resistance. Any more gains might open the doors for a move toward the 1.0750 level. On the downside, immediate support on the EUR/USD chart is seen near 1.0650. The next major support is near the 1.0630 level. A downside break below the 1.0630 support could send the pair toward the 1.0580 level. [B][URL="https://fxopen.com/blog/en/aj_eur-usd-dives-while-usd-chf-extends-rally/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] 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. [/I] [/QUOTE]
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