- EUR/USD loses further momentum and challenges 1.0800.
- Extra declines look likely once 1.0800 is cleared.
EUR/USD retreats further and puts the 1.0800 support to the test on Tuesday.
A drop below the latter should pave the way for a deeper retracement to, initially, the intermediate 100-day SMA at 1.0774 ahead of the 55-day SMA at 1.0684.
So far, while above the significant 200-day SMA at 1.0819, the pair’s outlook should remain constructive.
EUR/USD daily chart
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