- The bearish tone in EUR/USD remains unabated so far this week.
- The 1.0990 region holds the downside for the time being.
EUR/USD stays under pressure and trades within a tight range always around the key 1.10 handle.
Immediately above aligns the key 55-day SMA near 1.1040. The downside pressure is expected to alleviate somewhat above this area and allow a potential test of the 100-day SMA at 1.1074 ahead of last week’s highs in 1.1095/1.1100 band.
If the pair breaches 1.10 on a convincing note, then the 1.0990 region should offer interim support ahead of the more relevant 1.0930 zone. If the selling impetus picks up pace, then a move to 2019 low at 1.0879 should not be ruled out
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