EUR/USD Price Analysis: Further downside likely near term

• EUR/USD keeps the trade just above the parity zone.
• Below parity comes the December 2002 low at 0.9859.

EUR/USD gathers some upside traction and puts some distance from recent lopws in the parity area.

The pair’s bearish stance stays everything but abated for the time being. Against that, there are no support levels of note until the critical parity zone. Further south comes the December 2002 low at 0.9859.

As long as the pair navigates below the 5-month support line near 1.0560, further losses remain in store.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1048.

EUR/USD daily chart