EUR/USD Price Analysis: A drop to the 200-day SMA is not ruled out

- EUR/USD continues to lose momentum below 1.0900.

- Extra decline could revisit the key 200-day SMA near 1.0820.

EUR/USD weakens further and extends the recent breakdown of the key 1.0900 support on Friday.

The continuation of the downtrend could retest a minor support at the weekly low of 1.0852 (November 27). The loss of this level could put a potential test of the critical 200-day SMA, today at 1.0817, back on the radar sooner rather than later.

So far, while above the significant 200-day SMA, the pair’s outlook should remain constructive.

EUR/USD daily chart