The currency pair declined last week according to our expectations and has broken down the support at 1,0870. EUR/USD is still under the pressure due to coronavirus.

Weak US data has not helped EUR/USD to hold its positions. US CPI data was weaker than expected as inflation reached 0,1% growth level instead of previous 0,2%. As for Eurozone data, Friday’s German GDP was also weak as it has shown 0% growth.

We expect EUR/USD to develop the downtrend this week Coronavirus is till at first lines and investors are calculating their current and eventual losses. The next support is at 1,0593.