EURUSD

The EUR/USD pair remains under pressure due to the strong performance of the Dollar and the expectations of future interest rate cuts by the European Central Bank (ECB). Economic data from the U.S. and political developments support the upward movement of the Dollar index, while the increase in inflation in Europe further raises the likelihood of the ECB going for a rate cut. Expectations that the Bank of England (BoE) may adopt a less aggressive interest rate policy are causing the Sterling to depreciate less compared to the Euro.

From a technical perspective, the EUR/USD pair is attempting to hold above the level of 1.0530, which corresponds to the 34 and 55 period moving averages. If the pair manages to stay above this level, it may recover towards resistance levels of 1.0600, 1.0640, and 1.0675. Meanwhile, the RSI indicator is exhibiting a neutral stance at the 49 level and has recorded a decrease of 0.16% compared to the previous day. In downward movements, support levels of 1.0530, 1.0495, and 1.0445 are crucial. It should be noted that the main trend remains negative below the 233 period moving average level of 1.0705.