EUR/USD Price Analysis: Still room for extra losses

• EUR/USD makes a U-turn and regains the 1.0800 zone.
• Further decline could revisit the August low near 1.0760

EUR/USD manages to pick up some traction and reclaims the area above 1.0800 the figure at the beginning of the week.

The sharp retracement seen in the latter part of last week seems to have shifted the attention to the downside. Against that, the next contention area aligns at the August low of 1.0765 (August 25) prior to the May low of 1.0635 (May 31).

In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0817.

EUR/USD daily chart