EUR/USD Technical Analysis: a break above 1.1180 should pave the way for a test of the 200-day SMA

• The upside in EUR/USD continues to struggle in the proximity of monthly peaks in the 1.1180 region.
• A break above this area should put the critical 200-day SMA just below 1.1200 the figure back on the investors’ radar.
• On the broader view, while above recent lows in the 1.1070 region, the immediate bullish stance remains unchanged. This area is also reinforced by the proximity of the 55-day SMA in the 1.1040 region.

EUR/USD daily chart