EUR/USD Price Analysis: Downside mitigated above 1.0770

• EUR/USD gathers further impulse and surpasses 1.0600.
• The immediate target for bulls emerges at the 1.0770 region.

EUR/USD regains composure and extends the recovery beyond the key barrier at 1.0600 the figure at the end of the week.

In case the bounce becomes more serious, the pair is expected to target the weekly high of 1.0767 (September 12). The selling pressure is expected to alleviate once this level is cleared, allowing for a potential next move to the critical 200-day SMA, today at 1.0827.

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA.

EUR/USD daily chart