EURUSD

Markets are focused on the new week following last week's weak U.S. growth data and ceasefire news that eased geopolitical tensions. This week, critical inflation and employment data from both Europe and the U.S. will shed light on the central banks' next steps and will be the most important factors determining the market direction. EURUSD is currently moving at a pivot level of 1.0786. The main support levels for the pair are set at 1.0647, 1.0583, and 1.0517, while resistance levels are found around 1.0931, 1.1046, and 1.1207. The German CPI (Monday) and particularly the Eurozone CPI (Tuesday) data coming from Europe this week will be decisive for the pair. Eurozone inflation is expected to rise to 2.0%, while Fed Chairman Powell's speech and Thursday's Non-Farm Payroll data could increase volatility in the pair. It is likely that the 1.0931 resistance will be tested during Powell's speech or in the case of weak employment data from the U.S.