EUR/USD: Next stop on the downside is at 1.1185 – SocGen

EUR/USD continues to edge lower toward 1.1200. Economists at Société Généraleexpect the world’s most popular currency pair to extend its decline towards 1.1185.

Retest of 1.1185 not ruled out

“There is a risk of further decline towards recent trough and multiyear trend line near 1.1185/1.1160 and 1.1040.” 

“First hurdle is at 1.1295.”