EUR/USD Price Analysis: Next on the downside comes 1.0340
|- EUR/USD fails to extend the move beyond 1.0400.
- The door is now open to a visit to the 2017 low at 1.0340.
EUR/USD’s daily bullish attempt ran out of steam near 1.0420 on Friday.
Extra retracements remain well on the cards for the time being. That said, bets are now on the rise for a test of the 2017 low at 1.0340 sooner rather than later. This area is reinforced by the 2003 low at 1.0334 (January 2).
Below the 3-month line around 1.0900, EUR/USD is expected to remain under pressure and vulnerable to extra losses.
EUR/USD daily chart
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