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Forex News

Strong resistance emerged at 1.1090/95

  • EUR/USD is coming under renewed downside pressure.
  • Friday’s failure to surpass the 55-day SMA triggers the leg lower.

EUR/USD is slipping back to the 100-day SMA in the 1.1070/65 band on Monday following Friday’s failed attempt to regain the 55-day SMA near 1.1090.

Above this area, the downside pressure should alleviate and allow for a move to the more relevant 200-day SMA, today at 1.1126.

If the 100-day SMA is cleared on a convincing fashion, then the 1.1000/1.0990 region should return to the investors’ radar.

EUR/USD daily chart

 

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