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.
The pair is again above the 50-hour simple moving average. Immediate resistance on the upside could be 1.1650. The next key hurdle for the bulls might be 1.1675.
An upside break above 1.1675 might send the pair toward 1.1705. Any more gains might open the doors for a move toward 1.1740. If the bulls fail to push the pair above 1.1650, there could be another bearish reaction.
On the downside, immediate support on the EUR/USD chart might be near the trend line at 1.1630. The next major area of interest could be near the 50% Fib retracement level at 1.1620. A downside break below 1.1620 could send the pair toward 1.1550.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair declined from the 0.7900 barrier and tested the 0.7810 zone. The US Dollar traded as low as 0.7808 and recently started a fresh increase against the Swiss Franc.
The pair climbed above 0.7820 and the 50-hour simple moving average. There was a break above the 50% Fib retracement level of the downward move from the 0.7903 swing high to the 0.7808 low. Besides, there was a break above a connecting bearish trend line with resistance at 0.7830.
The bulls are now facing hurdles near the 61.8% Fib retracement at 0.7865. The next major area of interest could be 0.7880. The main sell region could be near 0.7900.
If there is a clear break above 0.7900, the pair could start another increase. In the stated case, it could test 0.8000. If there is another decline, the pair might test the 50-hour simple moving average at 0.7835.
The first major support on the USD/CHF chart could be 0.7830. A downside break below 0.7830 might spark bearish moves. The next major support might be 0.7800. Any more losses may possibly open the doors for a move toward 0.7765 in the near term.
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Editorial note: This recovered market brief has been cleaned and reclassified by Next Move Markets for educational market intelligence. It is not investment advice.
Next Move Markets desk view
For active traders, this brief should be read through the lens of currency markets rather than as a standalone headline. The key question is whether the theme behind EUR/USD Targets More Upside As USD/CHF Turns Higher Again can influence positioning beyond the first reaction. That means watching central-bank expectations, yield differentials, dollar momentum and risk appetite together, not in isolation.
A richer trading read comes from separating the catalyst from confirmation. The catalyst explains why markets are paying attention; confirmation comes from price action, liquidity and cross-asset behavior after the headline is digested. If those signals do not align, traders should treat the move as fragile and keep risk tighter.
What traders should watch next
- Whether the move is confirmed by the U.S. dollar index and short-term rate expectations.
- How London and New York liquidity react once the initial headline risk is absorbed.
- Whether price action respects the latest support and resistance zones instead of fading immediately.
- Any follow-up comments from central-bank officials or data releases that change the rate path.
Risk context
This article is a market-intelligence brief, not a trade recommendation. Before acting on the theme, traders should define invalidation, position size and the time horizon of the setup. The same headline can support a short-term reaction and still fail as a multi-session trend if liquidity, policy expectations or broader sentiment move the other way.
Scenario map
The base case is that traders keep this theme on the radar while waiting for confirmation from central-bank expectations, yield differentials, dollar momentum and risk appetite. A stronger continuation scenario requires follow-through after the first reaction, preferably with related assets moving in the same direction. A failure scenario develops if the headline is quickly absorbed, volatility fades and price returns inside the previous range.
For currency markets, the most useful approach is to compare the article theme with live market behavior. If the market confirms the narrative, pullbacks can become more constructive. If the market rejects it, the headline becomes background noise rather than a trading driver.
Execution discipline
- Define the level first: traders should know where the idea is invalidated before thinking about upside or downside.
- Separate news from setup: EUR/USD Targets More Upside As USD/CHF Turns Higher Again may explain attention, but entry quality still depends on timing, liquidity and risk/reward.
- Watch confirmation: a clean move usually appears across related markets, not only in one isolated instrument.
- Control exposure: if volatility expands, smaller position sizing can be more professional than chasing the headline.
Next Move Markets treats this kind of brief as a starting point for preparation: identify the driver, map the scenarios, then wait for the market to prove which path is actually being priced.
