EUR/USD Price Analysis: Gains look capped near 1.0940

• EUR/USD comes under pressure and revisits the sub-1.0800 zone.
• Occasional bullish moves face a decent barrier near 1.0940.

EUR/USD extends the rejection from the 1.0940 region and briefly breaks below the key support at 1.0800 on Friday.

It seems that while the 1.0940 region keeps capping the upside, further retracement looks likely in the pair in the short-term horizon. Against that, there is still room for EUR/USD to retest the 2022 lows near 1.0750.

While below the 200-day SMA, today at 1.1410, the outlook for the pair is expected to remain negative.

EUR/USD daily chart