EUR/USD Technical Analysis: Downside pressure targets the 1.1070 region

• EUR/USD continues to correct lower after another failed attempt to break above the critical resistance area around 1.1180.
• Further selling pressure should meet initial contention around recent lows in the 1.1070 area ahead of the key 55-day SMA, today 1.1044.
• A break above the 1.1180 area should put the critical 200-day SMA just below 1.1200 the figure back on the investors’ radar in the near term horizon.

EUR/USD daily chart