EUR/USD Price Analysis: Extra losses on the cards

• EUR/USD stays under heavy pressure well below 1.1100.
• The 1.1057 level should hold the downside near term.

EUR/USD retreats for the fourth session in a row on Thursday and threatens to revisit the 2022 low in the 1.1060/55 band (March 2).

Despite the daily RSI flirts with the oversold territory, the pair could still drop further. Against this, the breach of the 2022 low at 1.1057 (March 2) could spark a deeper retracement and retest the psychological 1.1000 mark in the not-so-distant future.

The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1596.

EUR/USD daily chart