EUR/USD tumbles to lows near 1.1180

The shared currency is extending its offered tone on Tuesday, dragging EUR/USD to post fresh daily lows in the 1.1180 region.

EUR/USD in weekly lows, eyes on 200-day sma

The pair is retreating for the second session in a row today as the buying interest around the dollar seems to have gathered extra traction since the start of the week.

The renewed demand for the buck remains bolstered by Friday’s auspicious results from the ISM manufacturing and Consumer Sentiment, both surpassing initial expectations.

On the data front, EMU’s Producer Prices are due later in the European morning, while the ECB Governing Council will  hold its non-monetary policy meeting ahead of the speech by board member P.Praet in Madrid.

Across the Atlantic, the Economic Optimism index by IBD/TIPP is only due.

EUR/USD levels to watch

The pair is now losing 0.31% at 1.1176 facing the immediate support at 1.1165 (200-day sma) followed by 1.1102 (2014-2016 support line) and then 1.1043 (low Aug.5). On the flip side, a break above 1.1270 (resistance line off 2016 high) would target 1.1279 (high Sep.26) en route to 1.1329 (high Sep.8).