EUR/USD Technical Analysis: Further consolidation could spark a correction lower

• EUR/USD keeps struggling to retest/surpass recent tops in the 1.1250 region amidst the absence of conviction among EUR-bulls.
• This area of short-term resistance is also reinforced by the 55-day SMAs at 1.1231. The continuation of the consolidative mood and inconclusive trading could encourage sellers to return to the market on a more sustainable fashion.
• That said, a retest of recent lows in the 1.1170/60 band remains well on the cards ahead of a potential move to Monday’s low in the 1.1100 neighbourhood.

EUR/USD daily chart