– EUR/USD loses further momentum and challenges 1.0800.
– Extra declines look likely once 1.0800 is cleared.
EUR/USD retreated further and tested 1.0800 support on Tuesday.
A drop below the latter would pave the way for a deeper retracement, initially, to the intermediate 100-day SMA at 1.0774 before the 55-day SMA at 1.0684.
As of now, while above the significant 200-day SMA at 1.0819, the outlook for the pair should remain constructive.