EUR/USD Technical Analysis: Initial target emerges at recent tops and the 21-day SMA in the 1.1080/85 area

• EUR/USD met strong resistance in the 1.1080 region, where is located the 21-day SMA, triggering a correction lower to the 1.1040 area.
• Further sideline trading is expected ahead of US Payrolls later in the day amidst the recent unclear price action.
• Looking at the broader picture, the negative view is seen unchanged while below the 55-day SMA at 1.1172 and the area of recent tops in the 1.1160/65 band.

EUR/USD daily chart