EUR/USD Outlook (17 January 2020)

Overall, EUR/USD is moving across. Recently, EUR/USD moved lower.
The eurozone final CPI data will be released later at 1800 (SGT).

Final CPI y/y (Forecast: 1.3%, Previous: 1.3%)
Final Core CPI y/y (Forecast: 1.3%, Previous: 1.3%)

If the released data are better than (or worse than) forecasted, euro may strengthen.
EUR/USD’s next support level is at 1.10800 and the next resistance level is at 1.12200.
Wait for the eurozone final CPI data to be released before looking for trading opportunities of EUR/USD.