Home EUR/USD Technical Analysis: Initial target emerges at recent tops and the 21-day SMA in the 1.1080/85 area

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EUR/USD Technical Analysis: Initial target emerges at recent tops and the 21-day SMA in the 1.1080/85 area

FX Street

Updated: 6 Sep. 2019 | 11:42

EUR/USD met strong resistance in the 1.1080 region, where is located the 21-day SMA, triggering a correction lower to the 1.1040 area.
Further sideline trading is expected ahead of US Payrolls later in the day amidst the recent unclear price action.
Looking at the broader picture, the negative view is seen unchanged while below the 55-day SMA at 1.1172 and the area of recent tops in the 1.1160/65 band.

EUR/USD daily chart

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