EUR/USD Outlook (06 February 2020)

Overall, EUR/USD is trending downwards. Recently, EUR/USD trended lower into the support level of 1.10000.
The eurozone final services PMI data (Actual: 52.5, Forecast: 52.2, Previous: 52.2) released yesterday was as forecasted.
The European Central Bank (ECB) Chairwomen Christine Lagarde will be testifying about the economy and monetary policy later at 1600 (SGT). Volatility is expected during this period.
Currently, EUR/USD is testing the support level of 1.10000 and the next resistance level is at 1.11800.
Stay out of EUR/USD for now.