EUR/USD Price Analysis: A visit to the 2022 low not ruled out

• EUR/USD reverses the initial spike to the 1.1230 region.
• Next on the downside comes 1.1118 ahead of 1.1106.

EUR/USD adds to Monday’s weakness and revisits the 1.1140 region on turnaround Tuesday.

In case the selling pressure gathers extra steam, then the next support of note emerges at the weekly low at 1.1118 (February 28). The loss of this level opens the door to a probable test of the 2022 low at 1.1106 (February 24) seconded by the round levels at 1.1100 and then 1.1000.

The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1608

EUR/USD daily chart