EUR/USD Price Analysis: A break of 1.0300 should lead to further gains

• EUR/USD comes under pressure after faltering ahead of 1.0300.
• Further upside is seen once 1.0300 is cleared.

EUR/USD advanced to levels just shy of 1.0300 the figure and sparked a corrective downside soon afterwards.

Ideally, the pair should clear the area of recent peaks to allow for the continuation of the rebound in the near term. That said, above the 1.0300 zone the pair should meet the next up barrier at the 55-day SMA, today at 1.0423.

Beyond the latter emerges the 6-month support line around 1.0440, above which the downside pressure is predicted to mitigate.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0949.

EUR/USD daily chart