EUR/USD Price Analysis: Further decline remains on the cards

• EUR/USD resumes the downside and flirts with a breach of 1.0400.
• The June low at 1.0358 should offer decent contention initially.

EUR/USD maintains the bearish bias unchanged and keeps navigating the area of 2-week lows on Friday.

The inability to surpass the 4-month line near 1.0640 should keep the downside pressure well in place around the pair for the time being. Against that, there is a minor support at the weekly low at 1.0382 (June 30) ahead of the June low at 1.0358 (June 15). A deeper pullback should put a visit to the 2022 low at 1.0348 (May 13) back on the radar.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1106.

EUR/USD daily chart