EUR/USD Price Analysis: Rebound still seen reaching the 1.0990 area

• EUR/USD has come under selling pressure above the 1.0900 mark.
• Immediately to the upside now emerges the 1.0990 barrier.

EUR/USD’s upside momentum managed to surpass the 1.09 level on Tuesday, although the bull run faltered around 1.0930, triggering the current leg lower.

If the insinuated recovery picks up more serious traction, then the next hurdle of relevance is located at late-January lows in the 1.0990/95 band.

Above the 200-day SMA, today at 1.1064, the selling pressure is expected to subside somewhat.

EUR/USD daily chart