NEWS : EUR/USD Technical Analysis: Upside so far capped by the key 200-day SMA at 1.1362
- EUR/USD is recovering part of the ground lost on Wednesday to the 1.1290/80 bands.
- Further consolidation around current levels carries the potential to morph into the inability of the pair to convincingly break above recent tops in the mid-1.1300s and motivate sellers to return to the markets.
- This view is reinforced by Wednesday’s bearish ‘outside day’.
- On the upside, the next hurdle of significance is the 200-day SMA, today at 1.1362.