EUR/USD Price Analysis: Initial hurdle comes at 1.0601

• EUR/USD manages to reverse part of the recent pullback .
• Last week’s high past 1.0600 emerges as the next target.

EUR/USD regains the smile and reclaims part of the ground lost on Friday.

If bulls push harder, then the pair could attempt a move to the minor hurdle at the June 16 high at 1.0601. Beyond this level comes the 55-day SMA at 1.0648 prior to the 4-month line around 1.0715. Spot needs to clear the latter to open the door to the continuation of the recovery in the short-term horizon.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1161.

EUR/USD daily chart