ByJin Dao Tai
MAY 20, 2021
Overall, EUR/USD is trending upwards. Recently, EUR/USD broke below the key level of 1.22 due to the strengthening of USD as a result of the released hawkish FOMC meeting minutes.
The eurozone final CPI y/y data released yesterday indicated little changed in the eurozone annual inflation data from its preliminary release.
- Final CPI y/y (Actual: 1.6%, Forecast: 1.6%, Previous: 1.6%)
- Final Core CPI y/y (Actual: 0.7%, Forecast: 0.8%, Previous: 0.8%)
European Central Bank President Lagarde will be speaking later at 2000 (SGT). During this time, there may be volatility in EUR.
Currently, EUR/USD is moving towards the support zone of 1.21500 and the next resistance zone is at 1.23200.
Look for short-term selling opportunities of EUR/USD if it breaks the support zone of 1.21500.
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