EUR/USD Price Analysis: Outlook remains negative below the 200-day SMA

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  • EUR/USD’s recovery briefly surpasses the key 1.0700 threshold on Tuesday.
  • Next on the upside comes 1.0767 ahead of 1.0828.

EUR/USD trades in a volatile fashion and looks to consolidate a breakout of the 1.0700 hurdle on Tuesday.

If the rebound gathers extra steam, the pair should face a minor hurdle at the weekly high of 1.0767 (September 12) prior to the critical 200-day SMA at 1.0828.

While below the key 200-day SMA, the pair is likely to face extra weakness.

EUR/USD daily chart