EUR/USD Price Analysis: Immediately to the upside comes the 200-day SMA

• EUR/USD reverses part of the recent retracement on Tuesday.
• A more intense rebound should meet the next hurdle at 1.0400.

EUR/USD returns to the positive territory and manages to climb as highas as the boundaries of the key 1.0300 region on Tuesday.

The continuation of the rebound should initially target the key 200-day SMA, today at 1.0400. The surpass of the latter is needed to dispute the so far November peak at 1.0481 (November 15).

EUR/USD daily chart