Topic: Technical Analysis by FXOpen
EUR/USD AND USD/CHF REMAIN SUPPORTED ON DIPS
EUR/USD is trading nicely above the 1.1280 support and it could continue to move higher. USD/CHF is currently correcting lower, but it remains supported on dips near 1.0050.
Important Takeaways for EUR/USD and USD/CHF
The Euro traded higher recently and tested the 1.1320 resistance area against the US Dollar.
There is a major contracting triangle in place with resistance near 1.1305 on the hourly chart of EUR/USD.
USD/CHF climbed higher recently above the 1.0000 and 1.0050 resistance levels.
There is a crucial bullish trend line formed with support at 1.0050 on the hourly chart.
EUR/USD Technical Analysis
The Euro started a solid rebound after forming a support base above the 1.1200 and 1.1220 levels against the US Dollar. The EUR/USD pair climbed above the 1.1250 and 1.1280 resistance levels to move into a positive zone.
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