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  • EUR/USD extends the downside to the sub-1.0800 area.
  • Extra losses should see the YTD low at 1.0635 retested in the near term.

EUR/USD is accelerating the decline following the recent breakdown of the key support at the 1.1000 neighbourhood, and the 1.0990 region, where coincide the 55-day SMA and the January’s low.

Immediately to the downside emerges the February low at 1.0777. If cleared, then a visit to the 2020 low at 1.0635 should return to the investors’ radar.

The selling pressure is expected to mitigate above the 200-day SMA and recent tops in the mid-1.1100s.

EUR/USD daily chart