EUR/USD Price Analysis: A test of 1.1000 in the offing?

• EUR/USD collapses to levels last seen in June 2020 near 1.1150.
• Further downside could well see 1.10 retested in the near/medium term.

EUR/USD sinks to the mid-1.1100s, area last visited back in June 2020, on the back of the relentless move higher in the US dollar.

Further downside appears likely in light of the ongoing price action. Against this, the next support could turn up at the round levels at 1.1100 and 1.1000, all ahead of May 2020 low at 1.0766 (May 7).

Extra losses in the pair remains well on the cards as long as it remains capped by the 4-month resistance line, today around 1.1340.

In the longer run, the negative outlook is seen unchanged below the key 200-day SMA at 1.1700.

EUR/USD daily chart