EUR/USD Technical Analysis: A move lower is in the offing in the short term

• EUR/USD is reversing Monday’s gains while keeps navigating the multi-session consolidative theme around the 1.1200 handle.
• Immediately to the upside emerges the 55-day SMA at 1.1232 ahead of so far monthly peaks at 1.1249 (August 6).
• The inability of the pair to regain this area of resistance in the near term (the sooner the better) should encourage sellers to return to the market on a more convincing fashion and spark a move lower to, initially, the 1.1100 neighbourhood.

EUR/USD daily chart