Euro area companies expect revenues to continue rising this quarter, but profitability is under pressure, according to the European Central Bank’s quarterly survey released on Monday. A net 18% of firms remain optimistic about turnover in the next quarter, while a net 10% report declining profits, the ECB said.

Price expectations were largely unchanged. Firms project their selling prices to increase by an average of 2.9% over the next 12 months, the same pace as three months earlier, while inflation expectations for the year ahead edged up to 2.6% from 2.5%.

EUR/USD is finding support in the previously noted 1.1850–1.1900 area, but there are still no clear signs of strong buying interest. If the decline extends, the next potential support zone may come in at 1.1730–1.1800.