EUR/USD Outlook (04 March 2020)

Overall, EUR/USD is trending upwards. Recently, EUR/USD tested but failed to break the resistance level of 1.11800 after the U.S. Federal Open Market Committee announced an emergency interest rate cut of 0.50%, causing a weakness in USD.
The eurozone CPI flash estimate data released yesterday were mixed.

CPI Flash Estimate y/y data (Actual: 1.2%, Forecast: 1.4%, Previous: 1.4%)
Core CPI Flash Estimate y/y data (Actual: 1.2%, Forecast: 1.2%, Previous: 1.1%)

Currently, EUR/USD is testing the resistance level of 1.11800 and the next support level is at 1.10000.
Stay out of EUR/USD for now.