On Thursday, the Eurozone single currency declined by 62 pips or 0.53% against the US Dollar. The currency pair tested the weekly support level at 1.1758 during Thursday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for sellers would be near the 1.1740 area.
However, the weekly S1 at 1.1758 could still provide support for the EUR/USD currency exchange rate within this session.