EUR/USD Price Analysis: Further weakness not ruled out

• EUR/USD manages to bounce off recent lows around 1.1020.
• A test of 1.1000 still appears in the pipeline in the near term.

EUR/USD stages a decent rebound after bottoming out around 1.1020 in the previous session on Wednesday.

Considering the recent price action, extra weakness should not be discarded and could motivate the pair to revisit the psychological support at 1.1000 the figure. The loss of the latter exposes a deeper correction to the interim 55-day and 100-day SMAs at 1.0901 and 1.0895, respectively.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0706.

EUR/USD daily chart