EUR/USD Technical Analysis: Interim hurdle aligns at the 21-day SMA at 1.1283 ahead of the 200-day SMA

• The Powell-led rebound in EUR/USD is now approaching the 21-day SMA beyond 1.1280.
• If the pair manages to regain further upside impulse, then the key 200-day SMA at 1.1325 should come to the fore. This is regarded as the last defence of a test of monthly tops near 1.1420.
• Looking at the broader scenario, below the 200-day SMA the bearish view on the pair remains intact.

EUR/USD daily chart