EUR/USD Technical Analysis: Bulls struggle near one-month-old descending trend-line, around 1.1400 handle

   “¢   The pair struggled to build on its strong intraday positive momentum further beyond the 1.1400 handle and started retreating from near one-month-old descending trend-line resistance.  

   “¢   Slightly overbought conditions on the 1-hourly chart seemed to be the only factor prompting some profit-taking following a strong up-move of over 100-pips from overnight swing lows.

   “¢   However, the fact that the pair remains well above important intraday moving averages – 50, 100 & 200-hour SMA, support prospects for some dip-buying interest on any meaningful slide.

   “¢   Moreover, technical indicators on 4-hourly/daily charts have just started gaining positive momentum and further add credence to the near-term constructive set-up.

   “¢   Meanwhile, sustained weakness back below mid-1.1300s might negate the bullish outlook and drag the pair back towards the 1.1300 round figure mark en-route the 1.1265 horizontal support.