EUR/USD Outlook (16 December 2019)

Overall, EUR/USD is trending upwards. Recently, EUR/USD trended lower, breaking the support level of 1.11500.
The eurozone PMI data will be released later at 1700 (SGT).

Flash Manufacturing PMI (Forecast: 47.3, Previous: 46.9 revised from 46.6)
Flash Services PMI (Forecast: 52.0, Previous: 51.9 revised from 51.5)

If the released data are better than or as forecasted, euro may strengthen.
Currently, EUR/USD is moving towards the resistance level of 1.11500 and the next support level is at 1.10100.
Look for buying opportunities of EUR/USD if the PMI data releases are positive.