Since Friday, the EUR/USD currency pair has been testing the 1.1740 level.
Given that the exchange rate is pressured by the weekly PP and the 200-hour SMA in the 1.1750 area, it is likely that some downside potential could prevail in the market. In this case the rate could target the 1.1680 mark.
In the meantime, note that the currency pair could gain support from the Fibo 61.80% at 1.1707. If the given support holds, the Euro could trade sideways against the US Dollar in the short run.
