EUR/USD Price Analysis: Next on the downside emerges 1.1000

EUR/USD extends the leg lower to the 1.1020 area.
Immediately to the downside emerges the 1.1000 zone.

EUR/USD adds to the bearish note seen on Friday, although the pair trades mostly within the familiar range on Monday.

In case sellers push harder, the 1.1000 neighbourhood should offer decent contention. This area is also underpinned by the temporary support at the 10-day SMA at 1.0997 prior to the weekly low at 1.0900 (March 14).

The medium-term negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1525.

EUR/USD daily chart

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