EUR/USD Price Analysis: Strong resistance emerged at 1.1090/95
- EUR/USD is coming under renewed downside pressure.
- Friday’s failure to surpass the 55-day SMA triggers the leg lower.
EUR/USD is slipping back to the 100-day SMA in the 1.1070/65 band on Monday following Friday’s failed attempt to regain the 55-day SMA near 1.1090.
Above this area, the downside pressure should alleviate and allow for a move to the more relevant 200-day SMA, today at 1.1126.
If the 100-day SMA is cleared on a convincing fashion, then the 1.1000/1.0990 region should return to the investors’ radar.
EUR/USD daily chart