EUR/USD Price Analysis: Rising bets for a drop to 1.1700

• EUR/USD accelerates the breakdown of 1.1800 on Thursday.
• Next on the downside comes the 1.1700 zone.

EUR/USD re-visits the area of weekly lows around 1.1770 amidst the renewed selling bias in the single currency.

The continuation of the downtrend faces the next support in the 1.1700 region, where sits the March lows. From here, there are no significant support levels until the 2021 lows near 1.1660 recorded on August 20.

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 1.1990.

EUR/USD daily chart