EUR/USD Technical Analysis: Rising odds for a test of the 21-day SMA at 1.1296

• EUR/USD has broken below the critical 200-day/week SMAs in the mid-1.1300s amidst renewed USD-strength, opening the door for a deeper pullback.
• Extra downside is now on the cards and could visit the key 1.1300 neighbourhood, where sits the 21-day SMA.
• On the other hand, and If spot manages to resume the upside, the next hurdle emerges near 1.1420, or last week’s highs, ahead of the more relevant 1.1450, or March tops.
• This important hurdle is considered the last defence for a visit of 2019 highs in the 1.1550/70 band.

EUR/USD daily chart