The currency pair corrected last week after a strong uptrend. EUR/USD has tested 1.1285 resistance area but failed to break it out.

The fears about the growing number of coronavirus cases in the United States were the main driver pushing the currency pair down. Moreover, there was no decision about the stabilizing fund in the EU during the EU Summit. Some European politicians think that this decision will not be taken in July as well.

The currency pair is able to develop its downtrend this week. The closest target is 1.1068.