ByJin Dao Tai
MAY 13, 2021
Overall, EUR/USD is trending upwards. Recently, EUR/USD rejected the resistance zone of 1.21500 after the release of the strong U.S. inflation data.
In their released Economic Forecast yesterday, the EU projects that the EU economy will expand by 4.2% this year, an upgrade from its previous forecast.
French and German banks will be closed today in observance of Ascension Day. Hence, there may be lower trading volatility and volume during the usual European market session.
EUR/USD’s next support zone is at 1.19700 and the next resistance zone is at 1.21500.
Look for short-term selling opportunities of EUR/USD.
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