The currency pair stays below the descending trend line due to the geopolitical instability. Despite the better than expected German PMI data, EUR/USD failed to break through the descending trend line low to high and stays below it at press time.

The currency pair broke through the support level at 1.1000 high to low and we expect EUR/USD to target 1.0792 this week. This scenario will be cancelled if EUR/USD tests 1.1000 again.