EUR/USD Price Analysis: The 1.1700 area looms closer

• EUR/USD intensifies the break below the 1.1800 support.
• The next significant support lines up in the 1.1700 region.

EUR/USD drops to fresh 6-week lows around 1.1720 earlier on Tuesday, extending the leg lower for the third session in a row.

A deeper pullback remains on the cards and is expected to target the 1.1700 neighbourhood, where converge late August lows and a Fibo level (of the 2017-2018 rally).

Furthermore, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1226.

EUR/USD daily chart