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  • EUR/USD recedes from Monday’s peaks in the vicinity of 1.1350.
  • The pair stays well supported near 1.1170 in the near-term.

EUR/USD’s upside momentum failed once again ahead of 1.1350 at the beginning of the week.

A breakout of this interim hurdle is needed to allow for a potential move to YTD tops in the 1.1420/25 band in the short-term horizon. On the flip side, there is a tough support in the 1.1170/65 band.

In the meantime, while above the 200-day SMA in the 1.1040 region, the constructive view is expected to remain well in place around EUR/USD.

EUR/USD daily chart