On Thursday, the EUR/USD currency pair declined to the 1.1660 level.
It is likely that some downside potential could prevail in the market, as the exchange rate is pressured by the 55-hour SMA near 1.1720. In this case the rate could target the weekly S3 at 1.1575.
Meanwhile, note that the currency pair could gain support from the weekly S2 at 1.1639. Therefore, the pair could reverse north and try to exceed the Fibo 61.80% at the 1.1707 mark.
