EUR/USD set to drop towards the March low at 1.1700 – SocGen

EUR/USD still looks vulnerable after erasing 1.1750. As economists at Société Générale note, the pair must hold the 1.1740 area to avert breaking down to 1.1700.

See – EUR/USD: Very dovish ECB to keep the pair vulnerable towards 1.17 – ING

Further down move

“EUR/USD struggled to maintain above short-term Moving Averages resulting in regain of downward momentum.”

“The pair should drift towards next support at March low of 1.1700.”

“Signals of bounce are still not visible.”

“1.1900 caps upside.”