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  • The recovery in EUR/USD appears to have run out of steam in the 1.1080/90 band, home of the 21-day and 100-day SMAs.
  • A convincing breakout of this hurdle is needed to allow a potential visit to the 1.1180 area.
  • In this region converge the October/November tops, the key 200-day SMA and a Fibo retracement of the 2017-2018 rally.

EUR/USD daily chart