The currency pair fluctuated in a range last week. EUR/USD was supported by the results of Jackson Hole symposium as the Fed’s Head Powell announced new monetary policy targets. The FOMC is going to pay more attention to the Labor market data. This means that the Fed is ready to hold current easy monetary policy even if the inflation is above 2%. This announcement had a negative impact on DXY and supported EUR/USD.

US Labor market data will be released this week. We expect EUR/USD to test 1.1950 this week.