EUR/USD Technical Analysis: Corrective upside could test the 200-week SMA at 1.1338

• The squeeze higher in the pair still has legs, although spot is struggling to leave behind the area of weekly tops around 1.1250. The 10-day SMA at 1.1241 also reinforces this area of resistance.
• If this area is cleared on a convincing fashion, further gains could see the critical 200-week SMA at 1.1338 re-visited in the near term.
• Further out, the bearish view on EUR/USD stays unchanged as long as the 6-month resistance line, today at 1.1380, caps the upside.

EUR/USD daily chart