EUR/USD Outlook (21 February 2020)

Overall, EUR/USD is trending downwards. Recently, EUR/USD has been ranging within 50pips around the key level of 1.08.
The eurozone PMI data will be released later at 1700 (SGT).

• Flash Manufacturing PMI (Forecast: 47.4, Previous 47.9 revised from 47.8)
  
• Flash Services PMI (Forecast: 52.4, Previous 52.5 revised from 52.2)
  

EUR/USD’s next support level is at 1.06000 and the next resistance level is at 1.08720.
If the released eurozone PMI data is worse than forecasted, look for selling opportunities of EUR/USD.