EUR/USD Price Analysis: Further gains should reclaim 1.0800 and beyond

• EUR/USD corrects lower following new monthly peaks near 1.0790.
• Extra advances are expected to reclaim the area above 1.0800.

EUR/USD faces some renewed downside pressure and gives away part of Thursday’s strong move to the vicinity of 1.0800 the figure.

A more serious bullish attempt is expected to quickly surpass the so far monthly high at 1.0787 (June 8) closely followed by the round level at 1.0800, which appears propped up by the transitory 100-day SMA, today at 1.0807.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0518.

EUR/USD daily charts