EUR/USD Price Analysis: Solid support emerges around 1.1400

• EUR/USD reverses two sessions in a row with losses.
• The 5-month support line holds the downside near 1.1400.

EUR/USD regains the smile and returns to the positive territory near 1.1440 on Wednesday.

In the meantime, further gains in the pair remains on the table while above the 5-month line in the 1.1400 neighbourhood. Beyond this area, EUR/USD should be able to attempt another visit to the 2022 high at 1.14834 (February 4) just ahead of the 200-week SMA, today at 1.1496. Between 1.1500 and 1.1600 there are no resistance levels of note, leaving the October 2021 top at 1.1692 as a potential longer-term target.

In the longer run, the negative outlook remains in place while below the key 200-day SMA at 1.1667.

EUR/USD daily chart