EUR/USD: Sellers stand ready to pounce again targeting levels close to 1.17 - Societe Generale

FXStreet reports that economists at Societe Generale note that 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.

“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.”