• EUR/USD comes under pressure following recent tops.
• Initial resistance is now seen at the weekly high near 1.1330.

EUR/USD sheds some ground for the first time after four consecutive daily advances on Thursday.

The ongoing strength is deemed as corrective only. That said, further bullish attempts are expected to meet initial resistance at the weekly top at 1.1329 (February 2) ahead of 1.13659 (high January 20).

While below the 4-month resistance line, today near 1.1420, extra losses remain well on the cards. In the longer run, the negative outlook is seen unchanged below the key 200-day SMA at 1.1678.

EUR/USD daily chart