EUR/USD Price Analysis: Scope for a visit to 1.1600

• EUR/USD gives away further ground and drops to 1.1655.
• Next on the downside emerges 1.1612 ahead of 1.1602.

EUR/USD accelerates losses and drops to new YTD lows in the mid-1.1600s on Wednesday.

Extra losses appear likely in the very short-term horizon, with the immediate target now at the september 2020 low at 1.1612 ahead of the November 2020 low in the 1.1600 neighbourhood.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1969.

EUR/USD daily chart