EUR/USD tumbles to fresh lows near 1.1840, US PCE on sight

The decline in EUR/USD stays well and sound during the second half of the week, now hovering over the area of weekly lows around 1.1840.

EUR/USD down on ECB news, now looks to US data

The pair is now intensifying the rejection from fresh cycle peaks near 1.2070 recorded on Tuesday, shedding more than 2 cents and opening the door for a potential visit to the initial support at 1.1815, where currently sits the 21-day sma.

Spot accelerated the downside after news agency Reuters cited the ongoing appreciation of the European currency could have started to lift some eyebrows among ECB officials, all in light of the key ECB meeting on September 7.

In addition, the buck remains trading on a firm fashion, regaining the 93.00 handle and beyond, or multi-day tops, when gauged by the US Dollar Index (DXY).

Later in the session, July’s PCE, initial claims, pending home sales and personal spending/income are all due in the US docket.

EUR/USD levels to watch

At the moment, the pair is losing 0.33% at 1.1844 facing the next down barrier at 1.1814 (21-day sma) followed by 1.1710 ( (4-month support line) and finally 1.1662 (low Aug.17). On the upside, a break above 1.1905 (high Aug.31) would open the door to 1.2069 (2017 high Aug.29) and finally 1.2167 (50% Fibo of the 2014-2017 drop).