• EUR/USD resumes the downtrend and challenges 1.1300.
• Sellers aim at another visit to the 2022 low at 1.1272.

EUR/USD fades Friday’s decent advance and shifts the attention to the downside on Monday.

The bias appears tilted to further decline in the very near term. That said, a breach of recent lows in the 1.1300 zone should pave the way for a potential visit to the 2022 low at 1.1272 (January 4).

The longer term negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1712.

EUR/USD daily chart