EUR/USD Outlook (06 January 2020)

Overall, EUR/USD is trending upwards. Recently, EUR/USD trended lower and tested but failed to break the support level of 1.11500.
The eurozone final services PMI data (Forecast: 52.4, Previous: 52.4) will be released later at 1700 (SGT).
If the released data is better than (or worse than) forecasted, euro may strengthen (or weaken) respectively.
Currently, EUR/USD is testing the support level of 1.11500 and the next resistance level is at 1.12800.
Stay out of EUR/USD for now.