• EUR/USD retreats to fresh monthly lows near 1.0715.
• The loss of the 1.0700 region exposes a deeper decline.

EUR/USD maintains the bearish note well in place and revisits the vicinity of 1.0700, or monthly lows, on Thursday.

In the meantime, the ongoing bearish development could force the pair to extend the move to the March low of 1.0516 (March 15) in case the 1.0700 region is cleared in a sustainable fashion.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0477.

EUR/USD daily chart