EUR/USD drops further near 1.1170, 200DMA next?

The shared currency is now intensifying its march south, sending EUR/USD to fresh lows in the 1.1180/70 band.

EUR/USD weaker on US data, USD-buying

The buying interest around the buck has gathered extra traction following auspicious results from US inflation figures during last month, at the same time adding to the case for a potential rate hike by the Fed as soon as next week.

Ahead in the session, US Consumer Sentiment measured by the Reuters/Michigan index is expected to improve for the current month, in that case adding to the ongoing USD sentiment.

EUR/USD levels to watch

The pair is now losing 0.58% at 1.1179 and a breakdown of 1.1147 (200-day sma) would target 1.1043 (low Aug.5) en route to 1.0950 (low Jul.25). On the flip side, the immediate resistance is located at 1.1286 (spike Sep.15) followed by 1.1294 (resistance line off 2016 high) and finally 1.1329 (high Sep.8).