EUR/USD Technical Analysis: Corrective rebound now targets 1.1260/70 band

• EUR/USD is adding to yesterday’s gains and is extending the rebound further north of the 1.1200 mark.
• Immediate target remains at the 1.1260/70 region, where converge last week’s peaks and the key 55-day SMA. Above this area, the downside pressure is expected to subside somewhat.
• Further out, the offered bias is seen unchanged below the key multi-month resistance line just above 1.1300 the figure. Therefore, another visit to yearly lows near 1.1100 remains well on the cards.

EUR/USD daily chart