DAXEUR

The DAXEUR pair is shaping up with the inflation data for November in the US meeting expectations and the growing expectations of a rate cut in the upcoming Fed meeting. This situation attracts the attention of the markets ahead of the European Central Bank (ECB) meeting. The messages to be delivered by ECB President Lagarde are particularly important in terms of the bank's future monetary policy moves. While European indices are generally showing a negative performance, Asian markets are on a positive trend. The inflation data in the US not creating significant volatility in the markets also has a limited impact on DAXEUR.

From a technical perspective, the DAX40 index is trying to gain strength above the 20095 – 20185 area, which also includes the 50-period average. The upward movements of the index can be followed with resistance levels at 20460, 20570, and 20660, respectively. Particularly, sustained movements above the 20460 resistance may increase the potential for the price to rise towards the 20660 level. However, a movement below the 20385 support level carries the risk of the price retreating to the 20185 level. The RSI indicator is hovering at a neutral level, with the intraday change calculated at -0.18%.