EURUSD

The EUR/USD pair is being shaped by positive PMI data from Europe and Germany's inflation indicators performing above expectations, along with discussions among ECB's potential interest rate cut scenarios. Strong economic data from Germany and the Eurozone curbs expectations for an ECB rate cut, while low-expectation PMI data from the US raises pressure on the Dollar Index. Today's inflation data from the Eurozone and ISM Services PMI and JOLTS data from the US will be the focus of the markets.

Technically, the EUR/USD pair is trapped between the 1.0375 and 1.0330 support levels. The pair staying below the 1.0510 resistance suggests that the current rise is a corrective move. On the daily chart, the RSI indicator is displaying a neutral outlook at the 47 level. In upward movements from the current level, the 1.044 and 1.048 resistance levels can be monitored. In downward movements, the 1.0330 level stands out as an important support. Compared to the previous day, a 0.08% decline in the pair is observed.