EURUSD

The EUR/USD pair has become a focal point following U.S. inflation data aligning with market expectations. The slight uptick in headline inflation has increased the possibility of a rate cut by the Fed at its December meeting. However, the rigidity in core inflation persists due to the stickiness in the services sector. The rise in the Dollar Index is creating pressure on the EUR/USD, while statements from FED and ECB officials could also have significant impacts on the pair. Market participants continue to closely monitor the decisions the Fed will make in upcoming meetings.

From a technical perspective, the EUR/USD pair continues to trade below the 34-period average of 1.0675, maintaining the weak reaction-strong trend theme. In downward movements, the 1.0525, 1.0485, and 1.0450 levels can be monitored as support. In the case of an upward recovery, the resistance levels of 1.0560, 1.0595, and 1.0638 should be followed. The RSI indicator for the pair is at the 40 level, and a slight negative trend is observed in the market. The pair has depreciated by 0.22% compared to the previous day.