FXStreet notes that EUR/USD was unable to establish above 1.19 last week. On Monday, the pair is holding steady above 1.1750 but economists at Société Générale suggest that a dip below the 1.1745/1.1741 support area would likely imply a test of the 1.17 level.

“EUR/USD failed to maintain above short-term Moving Averages and struggled to cross 1.1900 last week. This has resulted in regain of downward momentum bringing the pair once again towards projections of 1.1745/1.1741.”

“Next support will be at March low of 1.1700.”