EUR/USD Technical Analysis: Bullish attempts limited by the 1.1280/90 band

• EUR/USD is navigating the lower bound of the recent range following Friday’s deep retracement after once again failing at the 1.1280/90 band.
• The pair needs to leave behind this important area of resistance on a sustainable fashion in order to alleviate immediate downside pressure. In this area coincide the 21-day SMA and last week’s tops.
• Looking at the broader picture, the negative perspective remains intact as long as the critical 200-day SMA, today at 1.1315, caps the upside.

EUR/USD daily chart