The euro currency continues its declines for the third consecutive day, as the ECB meets in a week’s time.
The common currency touched down to a weekly low of 1.1789 before pulling back into the start of the European session.
The Stochastics oscillator on the 4-hour chart remains well oversold, offering a modest rebound in prices.
However, the upside might be limited to the 1.1900 level. Here, the resistance will most likely keep a lid on the gains.
This opens up the downside as EURUSD could very well retest the 1.1715 level of support.