EURUSD

This week, the EUR/USD pair is focused on significant developments such as Manufacturing and Services PMI data from the Eurozone, CPI data from Canada and the UK, China's credit interest rate decisions, and NVIDIA's financial results. On the US front, speeches by Chicago Fed President Goolsbee and ECB President Lagarde might also be noteworthy. The posture of the Dollar Index at the 107 level is a critical factor that could affect movements in the pair. The status of the index, which reached the peak of October 2023, may put pressure on the EUR/USD pair.

From a technical perspective, the EUR/USD pair may continue to remain weak as long as it fails to surpass the 34-day moving average at the 1.0595 level. The pair is currently trading just above the support at the 1.0525 level. The support levels at 1.0525 and 1.049 may strengthen the probability of maintaining the downward trend of the pair. In upward movements, resistance levels at 1.056 and 1.0595 should be monitored. The RSI indicator is at level 45, presenting a negative outlook. This suggests that the pair might remain under downward pressure. The pair, which showed a decrease of 0.06% compared to the previous day, may exhibit volatile movements in the short term.