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EUR/USD Price Analysis: Looks consolidative below 1.0900

  • EUR/USD keeps the side-line fashion below the 1.09 mark.
  • Interim resistance emerges at the 55-day SMA at 1.0950.

EUR/USD is fading part of the recent positive performance, although it manages well to keep business above the 1.0800 yardstick for the time being.

Further rangebound trading remains well on the cards for the time being, although the inability to probe or better clear the 55-day SMA at 1.0950 in the short-term horizon carries the potential to encourage sellers to return to the market on a more convincing fashion.

That said, the initial magnet to the downside sits at last week’s lows in the 1.0770/65 band ahead of April’s low at 1.0727 (April 24th).

EUR/USD daily chart

 

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