EUR/USD Technical Analysis: The leg lower could extend to the 1.1100 region… and below

• EUR/USD is prolonging the rejection from fresh tops in the 1.1180 region recorded on Monday.
• The renewed and quite moderate selling pressure is putting the constructive outlook to the test so far, as the pair approaches the key support in the 1.11 neighbourhood.
• If the selling impetus gathers further traction, then the critical 55-day SMA in the mid-1.10s would become the next target of relevance.

EUR/USD daily chart