EUR/USD Technical Analysis: upside well capped by the 55-day SMA near 1.1040

• EUR/USD has once again failed to break above the key 55-day SMA in the 1.1040 region on Tuesday.
• Spot needs to regain this area on a sustainable fashion in order to reassert the upside pressure and therefore allow for attest of the 100-day SMA just above the 1.11 mark.
• The continuation of the selling pressure initially targets the psychological barrier at 1.10 the figure ahead of the 1.0920 region.

EUR/USD daily chart