Extra losses likely below the 200-day SMA

• EUR/USD faces extra selling pressure and puts 1.0800 to the test.
• Immediately to the downside comes the 200-day SMA.

EUR/USD extends the weekly leg lower to the boundaries of the 1.0800 region on Wednesday.

Further losses are now expected to challenge the critical 200-day SMA at 1.0797 prior to the May low of 1.0635 (May 31).

A drop below the 200-day SMA should keep extra losses in store for the time being.

EUR/USD daily chart