EUR/USD Price Analysis: Key hurdle emerges near 1.0990

• EUR/USD has resumed the upside, although still trades below 1.0900.
• A breakout of 1.0900 should put the 55-day SMA back on the radar.

EUR/USD has managed to leave behind Tuesday’s pullback, and it has now shifted the attention to the upper 1.0800s.

The continuation of the upside momentum should allow the pair to test the key 55-day SMA around 1.0945.

The downside pressure is expected to subside once recent tops in the 1.0990/1.1000 region are cleared on a convincing fashion.

EUR/USD daily chart