EUR/USD Price Analysis: Next support comes at 1.0627

• EUR/USD remains on the defensive well below 1.0700.
• Immediately on the downside emerges the 1.0627 support.

EUR/USD comes under further downside pressure and extends the recent breakdown of the 1.0700 key support.

The current bearish move carries the potential to extend further and revisits the June low at 1.0627 (June 1) ahead of 1.0532 (low May 20). The RSI around 50 has still plenty of room to drop before entering the oversold territory.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1220.

EUR/USD daily chart