EUR/USD started a fresh decline below the 1.0900 support. USD/CHF is rising and might aim a move toward the 0.9000 resistance.

Important Takeaways for EUR/USD and USD/CHF Analysis Today

• The Euro struggled to clear the 1.0950 resistance and declined against the US Dollar.
• There is a key bearish trend line forming with resistance at 1.0870 on the hourly chart of EUR/USD at FXOpen.
• USD/CHF is showing positive signs above the 0.8900 resistance zone.
• There is a major bullish trend line forming with support at 0.8910 on the hourly chart at FXOpen.

EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair failed to clear the 1.0950 resistance. The Euro started a fresh decline below the 1.0900 support against the US Dollar.

The pair declined below the 1.0875 support and the 50-hour simple moving average. Finally, the pair tested the 1.0840 level. A low was formed at 1.0841 and the pair is now consolidating 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 1.0896 swing high to the 1.0841 low at 1.0855.

The next major resistance is near the 1.0870 zone or the 50-hour simple moving average. It is close to the 50% Fib retracement level of the downward move from the 1.0896 swing high to the 1.0841 low. There is also a key bearish trend line forming with resistance at 1.0870.

An upside break above the 1.0870 level might send the pair toward the 1.0900 resistance. Any more gains might open the doors for a move toward the 1.0950 level.

On the downside, immediate support on the EUR/USD chart is seen near 1.0840. The next major support is near the 1.0810 level. A downside break below the 1.0810 support could send the pair toward the 1.0765 level.

USD/CHF Technical Analysis

On the hourly chart of USD/CHF at FXOpen, the pair started a decent increase from the 0.8820 support. The US Dollar climbed above the 0.8870 resistance zone against the Swiss Franc.

The bulls were able to pump the pair above the 50-hour simple moving average and 0.8900. Finally, the pair tested the 0.8925 zone. A high was formed near 0.8923 and the pair is still showing signs of more upsides. It is testing a major bullish trend line with support at 0.8910.

On the upside, the pair is now facing resistance near 0.8925. The next major resistance is at 0.8940. The main resistance is now near 0.8950. If there is a clear break above the 0.8950 resistance zone and the RSI remains above 50, the pair could start another increase. In the stated case, it could test 0.8980.

If there is a downside correction, the pair might test the 23.6% Fib retracement level of the upward move from the 0.8821 swing low to the 0.8923 high at 0.8900.

The first major support on the USD/CHF chart is near the 50% Fib retracement level of the upward move from the 0.8821 swing low to the 0.8923 high at 0.8870. A downside break below 0.8870 might spark bearish moves. The next major support is near the 0.8845 pivot level. Any more losses may possibly open the doors for a move toward the 0.8820 level in the near term.

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