EUR/USD Price Analysis: The 1.1800 area keeps capping the upside

• The recovery in EUR/USD struggles to stay above 1.1800.
• Friday’s bullish “upside day” allows for extra gains.

EUR/USD failed once again to extend the recovery beyond the key 1.18 yardstick at the beginning of the week.

Past the 1.1800 hurdle comes in the interim resistance at the 55-day SMA, today at 1.1824 ahead of the more relevant 1.1900 neighbourhood, where coincide the July/August peaks.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2001.

EUR/USD daily chart