EUR/USD plunged last week due to a couple of factors including ECB’s comments and some strict measures by Germany and France against COVID-19. Partial lockdown is established in those countries, which may hit their services sectors hard.

The ECB’s Head Lagarde has mentioned that they plan another stimulus round in December. Those comments had a negative impact on EUR/USD as well. The currency pair has left the ascending channel and targets the 1.1552 support area.