EUR/USD Price Analysis: Interim hurdle comes at the 10-day SMA

• EUR/USD puts further distance from recent YTD lows.
• The current rebound now aims to the 10-day SMA.

EUR/USD adds to Friday’s gains and extend the recent breakout of the 1.1600 mark on Monday.

The technical rebound from oversold levels could pick up extra pace and is expected to  meet interim hurdle at the 10-day SMA at 1.1664 in the very near term. Past this area comes the 20-day SMA at 1.1728 ahead of the more significant hurdle in the mid-1.1700s. The latter is also underpinned by the 55-day SMA, today at 1.1767.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1960.

EUR/USD daily chart