EUR/USD Price Analysis: A break below 1.0800 looks likely

• Bets for EUR/USD to breach the 1.08 mark remain on the rise.
• Interim support emerges at May’s low at 1.0766.

EUR/USD is prolonging the consolidative note in the lower end of the monthly range so far this week.

While further consolidation looks likely in the very near-term, the probable break below 1.08 has been gathering traction as of late.

That said, the initial magnet to the downside sits at monthly lows in the 1.0770/65 band ahead of April’s low at 1.0727 (April 24^th).

EUR/USD daily chart