FXStreet notes that EUR/USD stays calm below 1.1750 but economists at TD Securities are not convinced that the bounce from 1.17 support is durable.

“We are not convinced that EUR/USD's bounce from 1.17 support is durable, especially as the real rate divergence between US and Germany persists, and likely to get wider into the fall.” 

“EUR weakness is not unique to the USD, it is broadly based as the ECB's TWI measure (19 currencies) has weakened since June.”