EUR/USD struggled but eventually chose the lower end of the range, due to USD strength. Will it totally break down or drift back up? The big event of the week is undoubtedly the ECB decision, which also consists of new forecasts. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.

Inflation data in the euro-zone, which reached 2%, continued putting pressure on Draghi, especially from his German peers. In the US, Donald Trump’s priorities do not provide the necessary fuel for the dollar, but upbeat expectations for Fed action keep it bid. Hawkish comments from Dudley and then from Brainard, two known doves, sent the greenback soaring.

Updates:

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