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EUR/USD Outlook (16 February 2022)

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Overall, EUR/USD is ranging across.

The eurozone ZEW Economic Sentiment data (Actual: 48.6, Forecast: 54.4, Previous: 49.4) released yesterday indicated a further decline in the surveyed investors and analysts’ sentiment on the economic outlook for eurozone.

The eurozone flash employment change q/q data released yesterday indicated a slowdown in the number of jobs added into the eurozone economy during the fourth quarter of 2021. The flash GDP q/q data released showed continued expansion in the eurozone economy at the same pace.

Flash employment change q/q (Actual: 0.5%, Forecast: 1.0%, Previous: 1.0% revised from 0.9%)
Flash GDP q/q (Actual: 0.3%, Forecast: 0.3%, Previous: 0.3%)
Currently, EUR/USD is trading towards the resistance zone of 1.13800 and the next support zone is at 1.12000.
Look for short-term buying opportunities of EUR/USD only if it breaks the resistance zone of 1.13800.

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