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  • 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