EUR/USD Price Analysis: Upside mitigated above 1.0830

• EUR/USD rebounds from multi-week lows near 1.0670.
• The selling pressure could mitigate somewhat above 1.0830.

EUR/USD manages to regain some buying interest soon after bottoming out in new 10-week lows near 1.0670 on turnaround Tuesday.

The pair remains under heavy pressure despite the corrective bounce, although the selling mood could alleviate a tad on a convincing close above the weekly high of 1.0831 (May 22). Immediately to the upside, in the meantime, appears the transitory 100-day SMA at 1.0814.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0488.

EUR/USD daily chart