EUR/USD Price Analysis: A breach of 1.1300 exposes the 2022 low

• EUR/USD resumes the upside and revisits the 1.1350 zone.
• The 1.1300 neighbourhood holds the downside so far.

The inability of EUR/USD to return to the area of YTD highs near 1.1480 in the short-term horizon should prompt the re-emergence of the selling sentiment.

Against that, a break below the 1.1300 are carries the potential to spark a deeper decline to, initially, the YTD low at 1.1272 (January 4) ahead of the December 2021 low at 1.1221 (December 15).

The longer term negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1715.

EUR/USD daily chart