EUR/USD Technical Analysis: Further downside should test the 100-day SMA at 1.1259

• EUR/USD extended the recent breakdown of the 200-day/week SMA in the mid-1.1300s and dropped to multi-day lows in the vicinity of 1.1270.
• Further retracements are now on the table and could test the 100-day SMA in the 1.1260 region ahead of the 55-day SMA at 1.1231.
• On the other hand, and If spot manages to resume the upside, the next hurdle emerges near 1.1420, or last week’s highs, ahead of the more relevant 1.1450, or March tops.

EUR/USD daily chart