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  • Further consolidation is expected in EUR/USD in the near term as long as the uncertainty around the US-China trade front prevails.
  • A surpass of the 1.1260/70 band – where coincide the 55-day SMA and recent tops – is necessary in order to alleviate downside pressure.
  • Further out, the offered bias is seen unchanged below the key multi-month resistance line just above 1.1300 the figure. Against this backdrop, another visit to 2019 lows in the 1.1100 neighbourhood remains well on the table.

EUR/USD daily chart