JinDao_Tai

EUR/USD Outlook (01 April 2021)

FX:EURUSD   Euro / U.S. Dollar
Overall, EUR/USD is trending downwards.

The eurozone CPI flash estimate y/y data released yesterday indicated an increase in inflation in March. Without factoring in energy prices, inflation declined slightly.
  • CPI Flash Estimate y/y (Actual: 1.3%, Forecast: 1.4%, Previous: 0.9%)
  • Core CPI Flash Estimate y/y (Actual: 0.9%, Forecast: 1.1%, Previous: 1.1%)
Earlier today, it was announced that France will be starting a four-week nationwide lockdown on this coming Saturday.

As it is Good Friday tomorrow, expect lower trading volatility and volume during the usual European market hours.

Currently, EUR/USD is moving towards the key level of 1.17. Its next support zone is at 1.16300 and the next resistance zone is at 1.17900.
Look for selling opportunities of EUR/USD.

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