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  • EUR/USD has once again failed to break above the key 55-day SMA in the 1.1040 region on Tuesday.
  • Spot needs to regain this area on a sustainable fashion in order to reassert the upside pressure and therefore allow for attest of the 100-day SMA just above the 1.11 mark.
  • The continuation of the selling pressure initially targets the psychological barrier at 1.10 the figure ahead of the 1.0920 region.

EUR/USD daily chart