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  • EUR/USD met some selling pressure in the 1.1180 region, or new 2-month peaks recorded at the beginning of the week. This area of resistance is also reinforced by a Fibo retracement of the 2017-2018 rally at 1.1186.
  • The near term bullish view, however, remains well in play while above the 55-day SMA in the mid-1.10s.
  • If the buying impetus picks up extra pace, then the critical 200-day SMA at 1.1206 should return to the radar.

EUR/USD daily chart