EUR/USD Outlook (31 August 2021)

Overall, EUR/USD is trending downwards. Recently, EUR/USD broke the resistance zone of 1.17600.

The eurozone CPI flash estimate y/y data will be released later at 1700 (GMT+8).

• CPI Flash Estimate y/y (Forecast: 2.7%, Previous: 2.2%)
  
• Core CPI Flash Estimate y/y (Forecast: 1.5%, Previous: 0.7%)
  

Currently, EUR/USD is testing to break above the key level of 1.18. Its next support zone is at 1.17600 and the next resistance zone of 1.19000.
Look for buying opportunities of EUR/USD if it breaks above the key level of 1.18.