EUR/USD Price Analysis: Further retracement looks likely

• EUR/USD remains under pressure in the 1.0800 neighbourhood.
• Interim support emerges at May’s low at 1.0766.

EUR/USD is prolonging the consolidative note in the lower end of the monthly range so far on Friday.

While further consolidation looks likely in the very near-term, a move lower to test monthly lows in the 1.0770/65 band remains well on the table in the short-term horizon.

In the meantime, the 1.1020 region – where coincide May highs and the 200-day SMA – is seen capping the upside for the time being. Above this area, the downside pressure is expected to mitigate somewhat.

EUR/USD daily chart