EUR/USD Outlook (17 June 2021)

Overall, EUR/USD is trending downwards. Recently, EUR/USD weakened and broke below the key level of 1.21 after the hawkish tone sent out by the U.S. Federal Reserve.

The eurozone final CPI y/y data will be released later at 1700 (GMT+8).

• Final CPI y/y (Forecast: 2.0%, Previous: 2.0%)
  
• Final Core CPI y/y (Forecast: 0.9%, Previous: 0.9%)
  

Currently, EUR/USD is testing the support zone of 1.19700 and the next resistance zone is at 1.21500.
Look for short-term selling opportunities of EUR/USD if it breaks the support zone of 1.19700.