EURUSD Price Analysis: Immediately to the upside comes the 200-day SMA

• EURUSD’s rally seems to have met initial resistance around 1.0360.
• The surpass of this region opens the door to extra gains.

EURUSD comes under some marked downside pressure soon after hitting fresh peaks around 1.0360.

The continuation of the recovery looks the most likely scenario in the very near term. Against that, further upside could motivate the pair to trespass the August high at 1.0368 (August 10) and then target the always relevant 200-day SMA, today at 1.0432.

In the longer run, the pair’s bearish view should remain unaltered while below the latter.

EURUSD daily chart