The currency pair had no tendency last week according to our expectations. The main reason for that trendless fluctuations was the lack of important data.

US non-manufacturing ISM was among the most important indicators last week. It surged to reach 57.1. This was forecastable as the US are abolishing restrictions and reopen its economy. As for the US PPI data, it was below expectations.

There is a huge volume of data this week to focus on. The ECB meeting will be one of the most important but we do not expect it to boost the price as the ECB members are unlikely to take any unexpected decisions. The price is likely to test 1.1285 again before choosing any further tendency.