EUR/USD Price Analysis: Room for a move to 2021 lows

• EUR/USD loses the grip further and clinches new monthly lows.
• Further downside faces the next support near 1.1660.

EUR/USD loses ground for the third consecutive session so far on Tuesday and records fresh September lows near 1.1670.

Extra losses appear likely in the short-term horizon, with the immediate target at the 2021 low at 1.1663 (August 20). A deeper pullback should expose the September 2020 low at 1.1612 followed by the November 2020 low in the 1.1600 neighbourhood.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1972.

EUR/USD daily chart