EUR/USD Technical Analysis: Further losses are likely while capped by the 200-day SMA at 1.1332

• The pair is prolonging the sideline trade in the 1.1280/70 region so far today.
• As long as the key 200-day SMA, today at 1.1232, caps the upside, further losses to, initially, 1.1181, should remain well on the cards.
• On the opposite side, a surpass of the 1.1330/40 band should alleviate downside pressure and allow EUR/USD to refocus on monthly peaks near 1.1420.

EUR/USD daily chart