EUR/USD Price Analysis: Further weakness now appears on the cards

• EUR/USD extends the downside below the parity zone.
• A deeper retracement could see the 2022 in the mid-0.9900s retested.

EUR/USD breaks below the parity level to clinch fresh 6-week lows at the beginning of the week.

Further losses appear in the pipeline for the time being. Against that, the pair could confront the 2022 low at 0.9952 (July 14) in case of a convincing breakdown of the parity region.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0852.

EUR/USD daily chart