The currency pair tested 1.1950 last week and plunged later. Attention was focused on the Eurozone’s PMI data. They were worse than expected allowing USD to gain back its positions. EUR/USD ended the week close to 1.1802.

There are not many data updates this week. We recommend paying attention to 1.1802 testing results. If EUR/USD breaks this level down, the currency pair is likely to develop the downtrend.