EUR/USD Price Analysis: Looks neutral-bearish in the short-term
|- EUR/USD bounces off monthly lows in the 1.0770/65 band.
- Temporary resistance emerges at the 55-day SMA at 1.0950.
EUR/USD is adding to Thursday’s gains above 1.0800 the figure after bottoming out in the 1.0770 region, or monthly lows.
Further rangebound trading remains well on the cards for the time being, while the next up barrier aligns in the mid-1.0900s, where sits the 55-day SMA.
Looking at the broader picture, the selling pressure is expected to mitigate on a surpass of the 200-day SMA, today at 1.1027. This area of resistance is reinforced by May’s tops around 1.1020.
EUR/USD daily chart
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