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  • EUR/USD has regained composure and trades near 1.0950 on Tuesday.
  • Immediately to the upside now emerges the 1.0990 barrier.

EUR/USD faltered ahead of 1.0970 at the beginning of the week, sparking the correction lower to the boundaries of the 1.09 neighbourhood, where some decent support turned up.

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 1.1057, the selling pressure is expected to alleviate and could allow for a visit to recent tops near 1.1150.

EUR/USD daily chart