EUR/USD: Sellers stand ready to pounce again targeting levels close to 1.17 – SocGen

EUR/USD is trading above the 15-week low of 1.1764 but bias stays negative as dip buyers miss conviction to keep the pair over 1.18. Next support is seen at 1.1745, economists at Societe Generale report.

Recent high at 1.19 to cap upside

“EUR/USD is probing the multi month ascending trend line (1.1770) however signals of a rebound are still not visible.”

“Recent peak at 1.1900 should cap upside.”

“Next potential supports are 1.1745 and March low of 1.1700.”