EUR/USD Technical Analysis: Rallies still capped by the 1.1060/65 band

FX Street

Updated: 16 Oct. 2019 | 10:22

The recent bull run in EUR/USD met strong hurdle in the 1.1060 region, or monthly tops.
A surpass of this resistance area should reassert the upside pressure and allow for a probable visit to September’s peak at 1.1109.
On the other hand, the inability of spot to extend the rally on a sustainable fashion (ideally in the near term) should open the door for some consolidative mood ahead of extra losses to, initially, the 21-day SMA ay 1.0984.

EUR/USD daily chart

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