EUR/USD Price Analysis: A deeper drop could expose the 1.0830 zone

• EUR/USD gives away the initial uptick to the 1.0930 zone.
• Next on the downside emerges the August low at 1.0844.

EUR/USD resumes the downside after climbing to the 1.0930 region earlier on Tuesday.

Further losses are expected to challenge the August low of 1.0844 (August 18) prior to the July low of 1.0833 (July 6). In addition, the loss of this region leaves the pair vulnerable to a probable test of the critical 200-day SMA at 1.0795 in the short-term horizon.

In the meantime, the pair’s positive outlook remains unchanged while above the 200-day SMA.

EUR/USD daily chart