EUR/USD Price Analysis: Still scope for a test of 1.1000

• EUR/USD loses further momentum near the 1.0900 support.
• The pair still targets the 1.1000 barrier in the near term.

EUR/USD’s initial bull run falters around the 1.0950 region on Tuesday.

Despite the current downtick, further gains remain well on the table for the time being. Against that, the pair is expected to challenge the psychological barrier at 1.1000 once the June peak at 1.0970 (June 16) is surpassed.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0549.

EUR/USD daily chart