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

Market news

10 August 2021

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

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

“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.”

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