EUR/USD Technical Analysis: A move lower is in the offing in the short term

FX Street

Updated: 13 Aug. 2019 | 10:22

EUR/USD is reversing Monday’s gains while keeps navigating the multi-session consolidative theme around the 1.1200 handle.
Immediately to the upside emerges the 55-day SMA at 1.1232 ahead of so far monthly peaks at 1.1249 (August 6).
The inability of the pair to regain this area of resistance in the near term (the sooner the better) should encourage sellers to return to the market on a more convincing fashion and spark a move lower to, initially, the 1.1100 neighbourhood.

EUR/USD daily chart

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