The Eurozone single currency declined by 41 pips or 0.35% against the US Dollar on Wednesday. The EUR/USD currency pair breached the weekly support level at 1.1801 during Wednesday’s trading session.
As for the near future, the exchange rate could continue to decline in a downtrend channel. Bearish traders might target the 1.1760 area within the following trading session.
However, short traders could encounter support at 1.1780 within Thursday’s trading session.
