EUR/USD Price Analysis: 200-day SMA holds downside…for now

• EUR/USD resumes the downtrend and re-visits the 1.0810 area.

• Firm contention remains at the 200-day SMA at 1.0800.

EUR/USD quickly forgot Wednesday’s highs and resumed the downtrend with immediate targets near recent lows near 1.0800.

This area of recent lows has so far been lifted by the critical 200-day SMA, while the closing rate may re-emerge at a potential test horizon of 1.0635 (May 31).

A drop below the 200-day SMA should keep extra losses in store for the time being.

EUR/USD daily chart