EUR/USD Price Analysis: Risks a test of 1.0800

• EUR/USD keeps correcting lower and breaches the 1.09 support.
• A return to the 1.0800 neighbourhood should not be ruled out yet.

EUR/USD is prolonging the bearish momentum after failing to extend the march further north of the psychological mark at 1.1000 the figure (Thursday).

If sellers regain the upper hand, then a potential drop to the previous consolidative pattern in the 1.0800 neighbourhood remains a palpable chance.

Above the 200-day SMA, today at 1.1012, the selling pressure is expected to mitigate somewhat and allow for a probable move to late March peaks in the mid-1.1100s.

EUR/USD daily chart