- EUR/USD loses further momentum and challenges 1.0800.
- Further declines seem likely once 1.0800 is breached.
He EUR/USD continues to retreat and tests the 1.0800 support on Tuesday.
A drop below the latter should pave the way for a deeper pullback to, initially, the intermediate 100-day SMA at 1.0774 before the 55-day SMA at 1.0684.
For now, as long as it remains above the important 200-day SMA at 1.0819, the pair’s outlook should remain constructive.
EUR/USD Daily Chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
