EUR/USD Price Analysis: Scope for a move to 2022 low

• EUR/USD fades the earlier bullish move to 1.0570.
• A visit to the YTD low at 1.0470 remains in the pipeline.

EUR/USD reverses the initial optimism and puts the 1.0500 level under pressure at the beginning of the week.

The offered stance in the pair remains well and sound despite Friday’s bounce and the door stays open to another probable visit to the YTD low around 1.0470 (April 28) in the very near term.

In the meantime, while below the 3-month line around 1.0980, extra losses in the pair are likely.

EUR/USD daily chart