EUR/USD Price Analysis: Immediately to the upside comes 1.1300
|- EUR/USD pushes higher and retests the 1.1280 area.
- The 55-day SMA around 1.1300 emerges as the next hurdle.
EUR/USD is up for the third session in a row and approaches the key barrier at the 1.1300 region on Tuesday.
The ongoing strength is deemed as corrective only, however, a further recovery could attempt a test of the round level at 1.1300 where the 55-day SMA also converges. Above the latter is located the 4-month resistance line near 1.1320, above which the selling pressure is expected to lose some traction.
In the longer run, the negative outlook is seen unchanged below the key 200-day SMA at 1.1687.
EUR/USD daily chart
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