EUR/USD Technical Analysis: Stays bid above the 55-day SMA
- EUR/USD manages to keep business above the 1.1100 handle so far.
- Investors are now looking at the 200-day SMA near 1.1140.
EUR/USD is looking to add to Friday’s gains above 1.1100 the figure amidst an improved mood in the riskier assets. That said, the next hurdle of relevance sits at the 1.1140 area, home of the 200-day SMA.
The recent downside appears to have met solid contention in the 1.1085/80 band for the time being. This important area of support is reinforced by the vicinity of the 55-day SMA, today at 1.1092.
Below the 55-day SMA, the downside pressure in the pair should be reinstated.
EUR/USD daily chart