ByJin Dao Tai
JUL 1, 2021
Overall, EUR/USD is trending downwards. Recently, EUR/USD bounced down from the key level of 1.19.
The eurozone CPI flash estimate y/y data released yesterday indicated a slight decline in annual inflation in June.
- CPI Flash Estimate y/y (Actual: 1.9%, Forecast: 1.9%, Previous: 2.0%)
- Core CPI Flash Estimate y/y (Actual: 0.9%, Forecast: 0.9%, Previous: 1.0%)
European Central Bank President Lagarde will be speaking later at 1500 (GMT+8). During this time, there may be volatility in euro.
Currently, EUR/USD is testing the support zone of 1.18500 and the next resistance zone is at 1.20000.
Look for short-term selling opportunities of EUR/USD if it breaks the support zone of 1.18500.
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