EUR/USD Outlook (22 February 2022)

Overall, EUR/USD is ranging across. Recently, EUR/USD rejected the resistance zone of 1.13800.

The series of eurozone flash PMI data released yesterday indicated that business activities continued to expand.

• French Flash Manufacturing PMI (Actual: 57.9, Forecast: TBA, Previous: 55.5)
  
• French Flash Service PMI (Actual: 57.6, Forecast: TBA, Previous: 53.1)
  
• German Flash Manufacturing PMI (Actual: 58.5, Forecast: TBA, Previous: 59.8 revised from 60.5)
  
• German Flash Services PMI (Actual: 56.6, Forecast: TBA, Previous: 52.2)
  
• Flash Manufacturing PMI (Actual: 58.4, Forecast: TBA, Previous: 58.7 revised from 59.0)
  
• Flash Services PMI (Actual: 55.8, Forecast: TBA, Previous: 51.1 revised from 51.2)
  

Currently, EUR/USD is testing to break below 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.