• EUR/USD regains some poise and bounces off the 1.0100 region.
• Extra gains need to clear weekly tops around 1.0280 near term.

EUR/USD manages to rebound from Tuesday’s lows in the vicinity of 1.0100 and retakes the 1.0170 area on Wednesday.

Further recovery should motivate the pair to challenge recent highs around 1.0280 to allow for extra gains to, initially, the interim hurdle at the 55-day SMA at 1.0438.

In the meantime, the pair is expected to remain under downside pressure while below the 5-month support line around 1.0480.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0976.

EUR/USD daily chart