EUR/USD Price Analysis: Further rebound could meet the 55-day SMA

• EUR/USD looks to consolidate the recent breakout of 1.0800.
• Further up comes the transitory barrier at the 55-day SMA.

EUR/USD adds to Friday’s move higher and surpasses the 1.0800 hurdle with some conviction.

While initially supported by the 1.0760 region, occasional bullish attempts could see the pair confront the interim resistance area at the 55-day SMA at 1.0868 prior to the psychological 1.1000 mark.

Extra losses are not ruled out, however, in the current context, although a sustained retracement to the March bottom of 1.0516 (March 15) is not favoured for the time being.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0468.

EUR/USD daily chart