EUR/USD Outlook (07 January 2022)

Overall, EUR/USD is ranging across.
The eurozone CPI flash estimate y/y data will be released later at 1800 (GMT+8).
CPI Flash Estimate y/y (Forecast: 4.8%, Previous: 4.9%)
Core CPI Flash Estimate y/y (Forecast: 2.5%, Previous: 2.6%)
Currently, EUR/USD is testing to break below the key level of 1.13. Its next support zone is at 1.12000 and its 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.