EUR/USD Price Analysis: Rising bets for a move to 2021 lows

• EUR/USD remains on the downside at/below 1.1700.
• Further downside faces the next support near 1.1660.

EUR/USD starts the week on the defensive and challenges the monthly lows near 1.1680.

Extra losses appear likely in the short-term horizon, with the immediate target at the 2021 low at 1.1663 (August 20) on a breach of 1.1683. A deeper pullback should expose the September 2020 low at 1.1612 followed by the November 2020 low in the 1.1600 neighbourhood.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1975.

EUR/USD daily chart