EUR/USD Price Analysis: Sharp pullback opens the door to 1.0800

• EUR/USD drops heavily to the 1.0845/40 band on Friday.
• Further losses face the next stop at the 100-day SMA.

EUR/USD rapidly breaks below the 1.0900 support to clinch new multi-day lows in the vicinity of 1.0840 on Friday.

The inability of the pair to regain traction and surpass the June high at 1.1012 (June 22) should prompt sellers to regain control and trigger extra losses in the short-term horizon.

That said, the immediate contention emerges at the 100-day SMA at 1.0807, while the loss of this level could pave the way to another visit to the May low of 1.0635 (May 31).

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0563

EUR/USD daily chart