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