EUR/USD Outlook (29 May 2020)

Overall, EUR/USD is trending upwards. Recently, EUR/USD bounced off the key level of 1.10 and moved higher.

The eurozone CPI Flash Estimate y/y data will be released later at 1700 (SGT).

• CPI Flash Estimate y/y (Forecast: 0.1%, Previous: 0.3% revised from 0.4%)
  
• Core CPI Flash Estimate y/y (Forecast: 0.8%, Previous: 0.9%)
  

Currently, EUR/USD is moving towards the resistance level of 1.11200 and the next support level is at 1.09700.
Look for buying opportunities of EUR/USD if it breaks the resistance level of 1.11200.