EUR/USD Outlook (02 March 2021)

Overall, EUR/USD is ranging across.

During a virtual conference yesterday, European Central Bank President Christine Lagarde highlighted that the COVID-19 pandemic is still “weighing heavily” on the eurozone economy.

The eurozone CPI flash estimate y/y data will be released later at 1800 (SGT).

• CPI Flash Estimate y/y (Forecast: 0.9%, Previous: 0.9%)
  
• Core CPI Flash Estimate y/y (Forecast: 1.1%, Previous: 1.4%)
  

EUR/USD’s next support zone is at 1.19700 and the next resistance zone is at 1.21500.
Look for selling opportunities of EUR/USD.