• EUR/USD extends the corrective decline to the 1.0900 area.
• A move to the 1.1000 hurdle remains on the cards.

EUR/USD corrects lower and challenges the 1.0900 region on Monday.

Despite the current downtick, further gains remain well on the table for the time being. Against that, the pair is expected to challenge the psychological barrier at 1.1000 once the June peak at 1.0970 (June 16) is cleared.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0544.

EUR/USD daily chart