EUR/USD Price Analysis: A breach of 1.0800 appears in store

• EUR/USD loses further ground and trades closer to 1.0800.
• The loss of this level exposes a move to April low at 1.0788.

EUR/USD maintains the bearish price action and slips back to the vicinity of the 1.0800 neighbourhood on Wednesday.

The 1.0800 area appears supported by the temporary 100-day SMA (1.0804) and the loss of this region could trigger a deeper drop to, initially, the April low at 1.0788 (April 3). Further south emerges the March bottom of 1.0516 (March 15).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0460.

EUR/USD daily chart