EUR/USD Price Analysis: Sharp pullback opens the door to 1.1120

• EUR/USD collapses to fresh lows in the mid-1.1100s.
• The 2022 low at 1.1121 emerges as the next target.

EUR/USD tanks to the 1.1150 region following increasing risk aversion on Thursday.

Such a sharp move now paves the way for a probable challenge of the YTD low around 1.1120 (January 28). Further down, there are no support levels of note until the round levels at 1.1100 followed by 1.1000.

The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1622.

EUR/USD daily chart