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Overall, EUR/USD is trending downwards. Recently, EUR/USD moved into the resistance zone of 1.17400. The German Preliminary CPI m/m data (Actual: -0.2%, Forecast: -0.1%, Previous: -0.1%) released yesterday indicated a slight decline in inflation in Germany. European Central Bank President Lagarde will be speaking at the ECB and its Watchers Conference later at 1520 (SGT). During this time, there may be volatility in EUR. Currently, EUR/USD is testing the resistance zone of 1.17400 and the next support zone is at 1.15300. Look for short-term selling opportunities of EUR/USD if it bounces off the resistance zone of 1.17400.