The currency pair plunged last week due to new forecasts that FOMC members have made on Wednesday on the economic growth and inflation. They were talking about possible monetary tightening in 2022. 

We expect the currency pair to test 1.1879. If the currency pair fails to break this resistance out, EUR/USD may develop its downtrend targeting 1.1620. Otherwise, the currency pair will return t0 1.1879-1.2218 range.