The EUR/USD has been on a sharp rally this week. But as we can see in the daily chart, the pair has come up to an area where we can expect resistance.EUR/USD Daily Chart 11/3(click to enlarge)Support as resistance:- Note that as price tags 1.1120, EUR/USD is testing a previous common support area. - This support area could turn into resistance.- Also note the cluster of 200-, 100-, and 50-day simple moving averages, which can also be seen as a resistance factor. }EUR/USD 1H Chart 11/3(click to enlarge)Monitoring the reaction around 1.1120:- As we can see in the 1H chart, despite some selling at 1.1120, the technical picture is still bullish.- The choppiness around 1.11 and the bearish divergence are some early clues that this bullish technical picture is softening. - If price fails to make a higher high in the 11/3 US session, and falls below 1.1080, then I would anticipate further slide to 1.0990-1.10. - I would limit the bearish outlook to the 1.0940-1.0950 area.- However, without a break below 1.1080, there is further upside risk. A break above 1.1125 continues this upside risk towards the 1.12 handle, .