The single European currency continues to weaken towards the g | OlympTradeEng

The single European currency continues to weaken towards the greenback. The daily chart of the EUR / USD pair is approaching an important support level at 1.1725-1.1735. Here the bulls will be opposed by the rhetoric from the head of the European regulator, scheduled for 22.07.21.

Earlier, the ECB changed its inflation target, comments on further plans are very important. ECB officials are expected to discuss the phasing out of emergency stimulus due to the spread of the delta strain. If the interventions are of a dovish nature, the bears on the Eurobucks have every chance of breaking through the support and further plunging to the 16th figure. The opposite situation will lead to a rebound of the pair and a return to the previous highs near 1.18 - 1.19.