EUR/USD Technical Analysis: The upside was rejected from the resistance line above 1.1100

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  • The post-ECB up move in EUR/USD met a solid hurdle in the 1.1100 neighbourhood, where emerges the key short-term resistance line.
  • Failure to regain and surpass this area in the near term should spark some consolidation ahead of the potential resumption of the selling pressure.
  • In case sellers return to the markets on a convincing fashion, there is scope for the pair to re-test the area of YTD lows near 1.0920.

EUR/USD daily chart

 

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