EUR/USD Technical Analysis: Extra gains face initial hurdle at the resistance line at 1.1328 ahead of the 200-week SMA

• The pair is prolonging the rebound from the 1.1180 region seen earlier in the week.
• Further upside remains on the cards and faces the initial target at the multi-month resistance line near 1.1330. Once this area is cleared, recent tops in the mid-1.1300s and the key 200-week SMA should re-emerge on the horizon.
• Further up aligns the critical 200-day SMA at 1.1351, considered the last defence for a test of March peaks in the mid-1.1400s.

EUR/USD daily chart