EUR/USD Price Analysis: Initial support now seen around 1.1660

• EUR/USD’s upside faltered around the 1.1750 region.
• The resumption of the selling pressure targets 1.1660.

EUR/USD struggles to advance further north of the 1.1750 region so far on Tuesday.

The pair needs to surpass the 1.1750 zone to allow for another visit to last week’s tops in the 1.1800 neighbourhood. Further up comes in the July/August peaks around 1.1900, although a move to this area is not favoured in the very near term at least.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2003.

EUR/USD daily chart