EUR/USD Technical Analysis: A new visit to 1.1100 cannot be ruled out

FX Street

Updated: 31 Jul. 2019 | 10:03

EUR/USD remains sidelined in the area of weekly highs in the 1.1150/60 band ahead of the key FOMC gathering later today.
The negative bias, however, remains entrenched while below the 55-day SMA at 1.1233 and against this backdrop, another test of YTD lows in the 1.1100 neighbourhood remains well on the cards in the short-term horizon.
In the meantime, the selling bias is expected to mitigate somewhat If the 1.1280/90 band is cleared, allowing for a potential test of the critical 200-day SMA just above 1.13 the figure.

EUR/USD daily chart

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