EUR/USD Price Analysis: Another drop to the 2022 low remains on the cards

• EUR/USD meets some selling pressure following tops near 0.9850.
• Extra weakness could open the door to the 2022 low at 0.9535.

EUR/USD partially fades the strong weekly bounce to multi-day highs near 0.9850 on Friday.

Odds for extra weakness in the European currency remain well in store so far with the immediate target at the 2022 low at 0.9535 (September 28). A deeper drop could challenge the round level at 0.9500 ahead of the weekly low at 0.9411 (June 17 2002).

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0653.

EUR/USD daily chart