EUR/USD Technical Analysis: the resumption of the selling bias could test the 1.1040 region

• EUR/USD has left behind the optimism seen at the beginning of the week and is today challenging recent lows in the 1.1080/70 band.
• Against this backdrop, Thursday’s bearish ‘outside day’ remains well in place and still points to further losses in the near term.
• That said, a deeper pullback should see the 55-day SMA at 1.1040 retested. This area of support is reinforced by the proximity of the 21-day SMA, today at 1.1045.

EUR/USD daily chart