EUR/USD Technical Analysis: The pair now targets the 200-day SMA at 1.1323

• EUR/USD continues to rebound from last week’s lows in the proximity of 1.1190 and is now eroding the 21-day SMA in the 1.1280/85 band.
• Further upside impulse should initially target the critical 200-day SMA at 1.1323 ahead of monthly tops near 1.1420.
• In the meantime, as long as the 200-day SMA caps the upside, a test of the 1.1181/76 band should not be ruled out.

EUR/USD daily chart