EUR/USD Price Analysis: Initial contention emerges near 1.1220
|- EUR/USD accelerates losses well south of 1.1300 on Tuesday.
- The loss of further ground could revisit the December low near 1.1220.
Increasing selling pressure now forces EUR/USD to shed further ground and challenge the area of 2-week lows around 1.1270.
If losses accelerate, then the pair is expected to attempt a move to the December’s low in the 1.1220 zone, which is regarded as the latest defence for a test of the 2021 low at 1.1186 (November 24).
The broader negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1749.
EUR/USD daily chart
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