EURUSD

The EURUSD pair reacted positively with the weakening dollar after the Classic Dollar Index approached its October 2023 peak. The macroeconomic data coming from the US could determine the Dollar Index's persistence at the 107 level. According to the technical outlook of the index, the current positive trend continues, and a possible move towards the 109.25 level might remain on the agenda. On the European side, the impact of economic data on the pair will continue to be monitored.

From a technical perspective, the EURUSD pair is trading below the 34 and 55 period averages located at the 1.0580 - 1.0610 levels. A drop below the 1.0525 support might trigger a move towards the 1.0450 level. However, a recovery above the 1.058 level could support an upward movement. The RSI indicator stands at 43, presenting a negative outlook. The pair has shown a change of 0.05% compared to the previous day.