EUR/USD Technical Analysis: Upside momentum limited by the 55-day/100-day SMAs above 1.1200
|- EUR/USD is looking to resume the upside and leave behind Monday’s moderate retracement to as low as the 1.1090 region.
- In case the upside impetus picks up extra pace, spot could extend the up move to, initially, a Fibo retracement at 1.1186 while the 1.1207/10 band emerges as a more significant resistance. In this area coincide the 55-day and 100-day SMAs.
- Immediately to the downside, initial contention emerges in the 1.1100 neighbourhood, where is located the 10-day SMA and weekly lows, ahead of last week’s lows in the mid-1.10s.
EUR/USD daily chart
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