EUR/USD Technical Analysis: Corrective rebound now targets the resistance line at 1.1289

• The upside momentum in EUR/USD remains well and sound so far this week and is now flirting with the key 100-day SMA beyond 1.1270.
• The continuation of the up move carries the potential to test the critical multi-month resistance line at 1.1289. Spot needs to clear this region in order to alleviate downside pressure.
• Further up emerges April’s tops in the 1.1320 region ahead of the more relevant 200-week SMA at 1.1343.

EUR/USD daily chart