On the daily chart the Relative Strength Index (RSI) indicator declined toward 60 early Monday, suggesting that the pair is staging a technical correction. On the downside, 1.0900 (20-day Simple Moving Average (SMA) aligns as first technical support ahead of 1.0760 (50-day SMA) and 1.0700 (100-day SMA).
In case EUR/USD manages to stabilize above 1.1000 (psychological level, static level), sellers could be discouraged. In that scenario, 1.1100 (psychological level, static level) could be seen as the bullish target before 1.1160 (static level from April 2022) and 1.1200 (psychological level).
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