USD/CHF continues its December descent. The pair’s attempt to return above the 0.9845 area has failed.
EUR/USD is at decisive levels
Information is not investment advice
EUR/USD was supported in the 1.0990 area last week. The support was strengthened by the fact that the attempted breakout of this level failed. On Monday, the pair recovered on the weak US data and went up through the 50- and the 100-day MAs. Now these lines provide support at 1.1070 and 1.1040. Resistance is now located in the 1.1100/1.1115 area (trend line going down from October 2018 highs). The advance above this zone is needed to open the way up to 1.1160 (200-day MA). All in all, EUR/USD finds itself in a confined space now, so bigger moves should come soon.
NZD/USD met resistance around 0.6565 (61.8% Fibonacci of the July-October decline, top of the October-December bullish channel).
The upside of EUR/CHF has so far been limited by 1.0975. On Monday, the pair slipped below 1.0940 resuming the decline that started last week.
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