On Monday, the Eurozone single currency declined by 32 pips or 0.27% against the US Dollar. The exchange rate tested a four-month low at 1.1730 during Monday’s trading session.
By and large, the currency pair is likely to continue to edge lower in a descending channel pattern during the following trading session. The possible target for the EUR/USD pair will be near 1.1680.
However, the currency exchange rate might encounter support near the weekly S1 at 1.1712 within this session.
