EUR/USD Technical Analysis: upside now targets the 55-day SMA near 1.1040

EUR/USD is extending the rebound from recent lows in the 1.0990/85 band on the back of renewed weakness surrounding the dollar.
That said, if the buying pressure keeps building up the next target will be at the key 55-day SMA, today at 1.1036.
Above this area, the upside bias is expected to return to the market.

EUR/USD daily chart

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