• EUR/USD comes under pressure after two sessions with gains.
• The weekly high near 1.1400 emerges as the next hurdle for bulls.

EUR/USD trades on the defensive following the moderate rebound in the sentiment surrounding the greenback.

A move higher should revisit the weekly high at 1.1395 (February 14) in the near term. The surpass of this level should pave the way for a potential test of the 200-week SMA at 1.1491 soon followed by the 2022 peak at 1.1494 (February 10).

In the longer run, EUR/USD is expected to keep the negative outlook as long as it trades below the key 200-day SMA, today at 1.1645.

EUR/USD daily chart