EUR/USD Price Analysis: The loss of 1.1100 could spark a deeper drop
|- EUR/USD trades in weekly lows near 1.1100.
- Next on the downside comes the 1.1000 key level.
EUR/USD remains well offered and navigates the lower end of the weekly range near the 1.1100 neighbourhood.
The recent upside bias now appears alleviated and further losses seem to be in store for the pair in the near term instead. That said, a sustained drop below the weekly low of 1.1111 could motivate the pair to dispute the psychological hurdle at 1.1000 the figure.
Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0687.
EUR/USD daily chart
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