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EUR/USD Technical Analysis: Bearish note unchanged below the 55-day SMA

  • EUR/USD is now attempting some rebound after bottoming out in the proximity of 1.1060 in late last week.
  • Immediately to the upside emerges the interim resistance at the 21-day SMA at 1.1149 ahead of the 10-day SMA at 1.1159.
  • While below the 55-day SMA near 1.1230, further retracements in spot – including a test of 2019 lows at 1.1026 – should remain on the table in the short-term horizon. This area of resistance is reinforced by monthly tops at 1.1249.

EUR/USD daily chart

 

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