EUR/USD Price Analysis: Extra losses exposes a visit to 1.1066/39
- EUR/USD is prolonging the move lower on Tuesday.
- The 100-day SMA/support line at 1.1066 emerges as the next target.
EUR/USD has managed to regain some buying interest after bottoming out in the 1.1080/75 band at the beginning of the week.
The selling pressure has accelerated following the breach of the key 55-day SMA in the 1.1090 region. If the downside pressure gathers pace, then the 100-day SMA at 1.1066 should return to the radar. This area of contention is also reinforced by the 3-month support line.
The bearish view remains unchanged while below the 55-day SMA.
EUR/USD daily chart