EUR/USD Price Analysis: Rising bets for drop to 1.0480

• EUR/USD rapidly loses the grip and trades in fresh lows near 1.0540.
• Next on the downside emerges the 2023 low at 1.0481.

The downside pressure picks up extra impulse and forces EUR/USD to print new monthly lows in the 1.0545/40 band at the end of the week.

If sellers push harder, spot could extend the retracement to the 2023 low at 1.0481 (January 6), an area reinforced by the proximity of the temporary 100-day SMA, today at 1.0449.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0329.

EUR/USD daily chart