EUR/USD Technical Analysis: Inability to break above the 1.10 barrier could spark some consolidation

  • EUR/USD has resumed the upside after two daily retracements in a row and it has refocused its attention to the key barrier at 1.10 the figure.
  • In the meantime, the downside pressure is expected to return to the market after a consolidative phase if spot does not clear this critical barrier in the near term.
  • In addition, while below the 3-month resistance line, today at 1.1014, the bearish view is expected to remain unaltered.

EUR/USD daily chart

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