EUR/USD Price Analysis: A deeper drop could retest 1.0830

• EUR/USD adds to Friday’s corrective decline well below 1.1000.
• The weekly low near 1.0830 emerges as the next support of note.

EUR/USD retreats to 3-day lows in the mid-1.0900s following a failed attempt to retake the key barrier at 1.1000 the figure on Monday.

Further weakness appears on the cards in the very near term for the pair. Against that, there is an initial support at the weekly low at 1.0831 (April 10) prior to April low at 1.0788 (April 3).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0373.

EUR/USD daily chart