- EUR/USD is looking to break above the 1.1140 region on a sustainable note.
- The pair’s outlook stays constructive above the 55-day SMA at 1.1094.
EUR/USD is facing a strong resistance in the 1.1140 region, where sits the key 200-day SMA and recent peaks.
If the pair clears this region on a convincing fashion, then the Fibo retracement at 1.1186 should emerge as an interim hurdle ahead of the more relevant 1.1200 neighbourhood and above.
In case sellers return to the market, then the 55-day SMA in the 1.1090 region should offer solid contention. Below it, the downside pressure should be reinstated.
EUR/USD daily chart