Breaking: EUR/USD breaks below 1.18 on dollar strength, levels

EUR/USD has tumbled below 1.18, hitting the lowest levels since early April – a three-month low. The main driver is dollar strength, which comes ahead of the Federal Reserve's release of its meeting minutes from its hawkish June decision.

The next support level is 1.1785, which was a resistance line at the end of March. It is followed by 1.1745, a cushion from early April, and then 1.17, a critical level that held euro/dollar from falling back in March.