EUR/USD Price Analysis: Further losses expected below 1.1750

• EUR/USD flirts with fresh monthly lows in the mid-1.1700s.
• Extra downside could see the 2021 lows near 1.1700 re-visited.

EUR/USD remains depressed well below the 1.1800 yardstick and leaves the door open to a deeper pullback in the very near term.

The 2020-2021 line around 1.1785 now takes centre stage. A sustainable break below this zone would be an important bearish event and carries the potential to accelerate losses to, initially, the YTD low in the 1.1700 neighbourhood (March 31).

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2002.

EUR/USD daily chart