ByJin Dao Tai
AUG 2, 2021

Overall, EUR/USD is ranging across. Recently, EUR/USD failed to break above the key level of 1.19.
The eurozone inflation data released last Friday indicated headline annual inflation in July continue to rise at a higher rate while core inflation declined slightly. The preliminary flash GDP q/q data released indicated a strong rebound in eurozone economic growth, surpassing the market’s expectation. Jobless rate also declined. Overall, the eurozone economy is making good progress in its recovery.
- CPI Flash Estimate y/y (Actual: 2.2%, Forecast: 2.0%, Previous: 1.9%)
- Core CPI Flash Estimate y/y (Actual: 0.7%, Forecast: 0.7%, Previous: 0.9%)
- Preliminary Flash GDP q/q (Actual: 2.0%, Forecast: 1.5%, Previous: -0.3% revised from -0.6%)
- Unemployment Rate (Actual: 7.7%, Forecast: 7.9%, Previous: 7.9%)
EUR/USD’s next support zone is at 1.18200 and the next resistance zone is at 1.20000.
Look for short-term buying opportunities of EUR/USD.
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