EUR/USD Technical Analysis: Upside still capped by the 1.1260/70 band

• The pair is surrendering some gains following last week’s breakout of the 1.1200 handle and failed attempt to surpass the 1.1260/70 band, which continues to cap the upside.
• In this band converges recent peaks and the key 55-day SMA. Above this area, the selling interest is expected to mitigate somewhat.
• Furthermore, the offered bias is seen unchanged below the key multi-month resistance line at 1.1299. Against this backdrop, another visit to 2019 lows in the 1.1100 neighbourhood stays well on the cards.

EUR/USD daily chart