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 band.
• 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 t he 200-day SMA, today at 1.1362.

EUR/USD daily chart