EUR/USD Price Analysis: Sellers now target the 1.1220 zone

• EUR/USD drops further and clocks new 2022 low.
• The decline could now extend to the December 2021 low near 1.1220.

EUR/USD remains immersed into the negative territory and drops to new YTD lows in the 1.1270/65 band on Tuesday.

The bias appears tilted to a deeper pullback in the very near term. That said, the next support of note is now seen at the December 2021 low at 1.1221 (December 15) ahead of the 2021 low at 1.1186 (November 24).

The longer term negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1708.

EUR/USD daily chart