EUR/USD Price Analysis: The 1.1230 area holds the downside for now

• EUR/USD looks to leave behind two consecutive sessions with losses.
• If sellers regain control, the initial support comes at 1.1235.

EUR/USD manages to bounce off the daily low in the 1.1280 region on Friday.

Further downside is expected to meet initial contention around 1.1230 (November 30), which is the last defence for another assault to the 2021 low at 1.1186 (November 24).

The probability of further losses remains unchanged as long as EUR/USD trades below the 2-month resistance line (off September’s peak) near 1.1550. In the longer run, the offered stance in spot is expected to persist while below the 200-day SMA at 1.1815.

EUR/USD daily chart