EUR/USD finally made a breakthrough and reached the highest levels in over a year. Is this the beginning of a longer trend? The first week of July features PMIs and the ECB meeting minutes. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.

Mario Draghi talked about a move from deflation risk to reflation and also about gradually removing stimulus. This optimism from Draghi, that was very cautious on inflation so far, sent the euro higher. In the US, Yellen did not say anything regarding monetary policy, but her colleagues seem more skeptical about inflation picking up.

Updates:

EUR/USD daily chart with support and resistance lines on it.