ByJin Dao Tai
JUN 30, 2021
Overall, EUR/USD is trending downwards. Recently, EUR/USD broke below the key level of 1.19.
The German Preliminary CPI m/m data (Actual: 0.4%, Forecast: 0.4%, Previous: 0.5%) released yesterday indicated continued rise in inflation in June albeit at a slightly lower rate than in May.
The eurozone CPI flash estimate y/y data will be released later at 1700 (GMT+8).
- CPI Flash Estimate y/y (Forecast: 1.9%, Previous: 2.0%)
- Core CPI Flash Estimate y/y (Forecast: 0.9%, Previous: 1.0%)
Currently, EUR/USD is testing to break above the key level of 1.19. Its next support zone is at 1.18500 and the next resistance zone is at 1.20000.
Look for short-term selling opportunities of EUR/USD if it fails to break above the key level of 1.19.
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