EUR/USD Price Analysis: There is an initial resistance near 1.0640

• EUR/USD regains the smile and reverses Wednesday’s decline.

• Extra recovery could see the monthly high around 1.0640 revisited.

EUR/USD held weekly choppiness well and now recovers the 1.0570 region after Wednesday’s daily decline.

If the recovery momentum is more serious, the pair is expected to challenge the October highs before a possible move to the transitory 55-day SMA at 1.0721 at 1.0639 (October 12).

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA at 1.0819.

EUR/USD daily chart