EUR/USD Technical Analysis: Upside limited by the 200-day SMA at 1.1337

• EUR/USD is losing further ground today, prolonging the rejection from recent tops above the 1.1400 handle and the subsequent breakdown of the key 200-day SMA i the 1.1340 region.
• Further retracements are now on the table and target the 100-day SMA at 1.1259 ahead of the 55-day SMA at 1.1231.
• On the other hand, spot needs to overcome the 200-day/week SMA in the 1.1340 region to alleviate downside pressure and refocus on the 1.1400 handle and beyond.

EUR/USD daily chart