EUR/USD Technical Analysis: Upside remains capped by the 1.1100 area

• EUR/USD has once again met a tough hurdle near 1.1100.
• A break below the 55-day SMA should reassert the offered bias.

Despite the recent loss of momentum, EUR/USD stays firm and continues to track the developments from the US-China trade front.

The immediate target emerges at the 1.1090/1.1100 region, where converge October and November tops. A breakout of this area of resistance should allow for a potential test of the critical 200-day SMA, today at 1.1159.

However, If sellers regain control of the market (not favoured in the very near-term), initial contention is seen around 1.1040, where is located the 55-day SMA. Below this area, the downside pressure is expected to prevail.