EUR/USD Outlook (30 July 2020)

Overall, EUR/USD is trending upwards. Recently, EUR/USD moved into the resistance zone of 1.17700.

The German Preliminary GDP q/q data (Forecast: -9.0%, Previous: -2.2%) will be released later at 1600 ( SGT ).

Also, the eurozone unemployment rate data (Forecast: 7.7%, Previous: 7.4%) will be released later at 1700 ( SGT ).

Currently, EUR/USD is testing the resistance zone of 1.17700 and the next support zone is at 1.15300.
If EUR/USD breaks the resistance zone of 1.17700, look for short-term buying opportunities of EUR/USD up until the release of the U.S. advance GDP data at 2030 ( SGT ).