EUR/USD Technical Analysis: Persistent weakness could visit the 55-day SMA

• EUR/USD prolongs the negative price action below the 200day SMA.
• Below the 55-day SMA at 1.1093 the selling bias should re-emerge.

EUR/USD trades on the defensive for the second session in a row. Losses are expected to pick up pace following the breakdown of the 200-day SMA in the 1.1140 region.

The bullish move that started in early December appears to have lost momentum, leaving an interim top in the vicinity of 1.1240 (December 31^st) for the time being.

Further downside should now allow a visit to the 55-day SMA in sub-1.1100 levels, reinstalling at the same time the bearish view in the par.

EUR/USD daily chart