EUR/USD Outlook (20 January 2020)

Overall, EUR/USD is moving across. Recently, EUR/USD moved lower, breaking the key level of 1.11 downwards.
The eurozone final CPI data released last Friday was as forecasted. The market reacted negatively to the data.

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

Currently, EUR/USD is testing to break the key level 1.11 upwards. Its next support level is at 1.10800 and the next resistance level is at 1.12200.
Stay out of EUR/USD for now.