EUR/USD Price Analysis: Selling pressure alleviated above 1.0180

• EUR/USD treads water below the parity zone on Thursday.
• The pair needs to clear the multi-month resistance line near 1.0180.

EUR/USD trades in an inconclusive fashion, while a break above the parity level remains elusive on Thursday.

If the recovery picks up extra pace, then the interim hurdle comes at the 55-day SMA at 1.0163 prior to the key 7-month resistance line, today near 1.0180. A move beyond the latter is needed to reduce the selling bias and allow the pair to confront the September high at 1.0197 (September 12) before the 100-day SMA at 1.0325.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0735.

EUR/USD daily chart