Overall, EUR/USD is ranging across. Recently, EUR/USD trended into the resistance zone of 1.19700. The eurozone and German ZEW economic sentiment data released yesterday indicated a decline in the level of optimism on the eurozone and German economy. Eurozone ZEW Economic Sentiment (Actual: 66.3, Forecast: 77.2, Previous: 74.0) German ZEW Economic Sentiment (Actual: 70.7, Forecast: 79.1, Previous: 76.6) European Central Bank President Christine Lagarde will be speaking at an online event later at 2200 ( SGT ).
During this time, there may be volatility in EUR. Currently, EUR/USD is testing the resistance zone of 1.19700 and the next support zone is at 1.17900.
Look for selling opportunities of EUR/USD if it rejects the resistance zone of 1.19700.