EUR/USD Technical Analysis: Upside stalled near 1.1280. Initial target still at 1.1338

• EUR/USD met a tough hurdle in the 1.1280/85 band so far this week. The continuation of the corrective upside could see the 55-day SMA at 1.1318 tested in the near term.
• Further north comes the critical 200-week SMA, today at 1.1338. This area is regarded as the latest defence for a new visit to the 1.1500 neighbourhood and probably beyond.
• On a broader view, the pair keeps the negative stance while below the 6-month resistance line, today at 1.1402.

EUR/USD daily chart