EUR/USD Price Analysis: Temporary contention emerges near 1.0880

EUR/USD fades part of the recent optimism and retests 1.0920.
Next on the downside comes the 55-day SMA around 1.0880.

EUR/USD gives away some of the recent 2-day gains and slips back to the 1.0925/20 band on Wednesday.

In case the selling pressure gathers extra impulse, the pair could see the 55-day SMA, today at 1.0883, revisited in the near term. Below the latter, the weekly low at 1.0844 (June 23) could become the next support to watch for.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0578.

EUR/USD daily chart

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