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  • EUR/USD met some selling pressure near 1.0970 on Monday.
  • Immediately to the upside now emerges the 1.0990 barrier.

EUR/USD failed to extend the recovery further north of the 1.0970 area at the beginning of the week.

If the recovery picks up more serious traction, then the next hurdle of relevance is located at late-January lows in the 1.0990/95 band.

Above the 200-day SMA, today at 1.1059, the selling pressure is expected to alleviate and could allow for a visit to recent tops near 1.1150.

EUR/USD daily chart