EUR/USD Technical Analysis: Room for further retracement to 1.1100

• EUR/USD remains sidelined within the familiar range so far today, flirting at the same time with the 21-day SMA at 1.1179.
• Occasional bullish attempts should meet initial resistance in the 1.1224/37 band, where coincide the 100-day and 55-day SMAs ahead of weekly highs around 1.1250.
• The inability of the pair to regain this area of resistance in the near term (the sooner the better) should motivate the selling bias to reinstall among traders and refocus the attention to the 1.1100 neighbourhood and probably below.

EUR/USD daily chart