EUR/USD Outlook (25 January 2022)

Overall, EUR/USD is ranging across. Recently, EUR/USD bounced up from the key level of 1.13.

The series of eurozone flash PMI data releases yesterday indicated that business activities continue to expand. Also, the services sector in Germany has rebounded from contraction into expansion.

• French Flash Manufacturing PMI (Actual: 53.1, Forecast: TBA, Previous: 55.6 revised from 54.9)
  
• French Flash Service PMI (Actual: 55.5, Forecast: TBA, Previous: 57.0 revised from 57.1)
  
• German Flash Manufacturing PMI (Actual: 60.5, Forecast: TBA, Previous: 57.4 revised from 57.9)
  
• German Flash Services PMI (Actual: 52.2, Forecast: TBA, Previous: 48.7 revised from 48.4)
  
• Flash Manufacturing PMI (Actual: 59.0, Forecast: TBA, Previous: 58.0)
  
• Flash Services PMI (Actual: 51.2, Previous: 53.1 revised from 53.3)
  

Currently, EUR/USD is trading down towards the key level of 1.13. Its next support zone is at 1.12000 and the next resistance zone is at 1.13800.
Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.13.