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Remains under pressure near 1.1090

  • EUR/USD stays vulnerable around the 1.1100 area.
  • Attention is now on the key 55-day SMA at 1.1092.

The selling bias in EUR/USD looks everything but unabated so far today.

The bullish move that started in early December appears to have lost momentum, leaving an interim top in the vicinity of 1.1240 (December 31st) for the time being.

If sellers continue to gain control of the markets, the spot is likely to break below the key 55-day SMA around 1.1090. Below this level, the pair’s outlook should shift to bearish.

EUR/USD daily chart

 

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