EUR/USD Price Analysis: The main challenge is the 55-day SMA

• EUR/USD is hovering around the 55-day SMA near 1.1090.
• Key support is located around 1.1070/60.

EUR/USD’s decline met decent contention in the proximity of 1.1070. This area of support is also reinforced by the 100-day SMA and the 3-month support line in the 1.1060/65 region.

The offered bias in the spot should alleviate somewhat above the 55-day SMA, today at 1.1091.

Further south emerges the 1.1040 area, early December lows.

EUR/USD daily chart