EUR/USD Outlook (02 December 2020)

Overall, EUR/USD is ranging across. Recently, EUR/USD broke the resistance zone of 1.19800.

The eurozone CPI Flash Estimate y/y data released yesterday indicated no change in the annual rate of inflation in November from the previous month.

• CPI Flash Estimate y/y (Actual: -0.3%, Forecast: -0.2%, Previous: -0.3%)
  
• Core Flash Estimate y/y (Actual: 0.2%, Forecast: 0.2%, Previous: 0.2%)
  

The eurozone unemployment rate data (Forecast: 8.4%, Previous: 8.3%) will be released later at 1800 (SGT).

Currently, EUR/USD is moving towards the key level of 1.21. Its next support zone is at 1.19800 and the next resistance zone is at 1.21800.
Look for buying opportunities of EUR/USD if it breaks above the key level of 1.21.