The Italian was sacked earlier this month following City's FA Cup final loss to Wigan, bringing an end to his three-and-a-half-year spell in charge at Eastlands.
Mancini has been linked with a move back to Serie A, but admits he is still unsure on his future.
"Returning to Italy? I don't know, we'll see what will happen in the coming weeks," he told Sky Sports Italy.
"A professional coach can go anywhere if there are chances; it is difficult to say where I will go.
"A return to Inter Milan? I don't think so, but in this job anything can happen."
After Mancini had bought an advert in the Manchester Evening News to thank the City fans for their support, a group of fans returned the gesture in Italian newspaper La Gazzetta dello Sport.
"There has been a great feeling with the City supporters. We won three trophies in three and a half years at a club that had not won for 40 years and their affection is proof of the strong bond we have created," he told the paper.
"We also succeeded to win 6-1 at Old Trafford against Manchester United. Now the club will therefore continue to do important things."