EUR/USD Outlook (04 August 2020)

FX:EURUSD   Euro / U.S. Dollar
Overall, EUR/USD is trending upwards. Recently, EUR/USD broke the support zone of 1.17700.

The eurozone Final Manufacturing PMI data (Actual: 51.8, Forecast: 51.1, Previous: 51.1) released yesterday indicated a slight upwards revision in the growth of the manufacturing sector in July.

Currently, EUR/USD is testing the resistance zone of 1.17700 and the next support zone is at 1.15300.
Look for selling opportunities of EUR/USD if it bounces off the resistance zone of 1.17700.


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