EUR/USD Price Analysis: Corrective decline may retest 100-day SMA

• EUR/USD adds to Thursday’s decline and approaches 1.0700.

• A deeper drop could revisit the 100-day SMA near 1.0615.

EUR/USD accelerated losses and ended the week dipping well south of the 1.0800 mark.

The corrective move could extend further in the near term and put the 100-day SMA near 1.0615 back on traders’ radar. Below the latter comes the March low at 1.0516 (March 15).

Looking longer-term, the constructive outlook remains unchanged while above the 200-day SMA, at 1.0332 today.

EUR/USD daily chart