EURUSD

The EUR/USD pair is finding direction with expectations of a rate cut at the upcoming meeting of the U.S. Federal Reserve. While the possibility of a quarter-point rate cut at the December 18 meeting stands out with a probability of 72%, the critical U.S. employment data to be announced today could strengthen or weaken these expectations. While a recent tight range trend in the Dollar Index continues within the 105-108 band, the movement of the pair should also be closely monitored during this period. Positive economic developments in China and general economic data from the U.S. could affect the short-term trajectory of the EUR/USD pair.

From a technical perspective, the EUR/USD pair is trading above the 1.0545 support level, with 1.0485 and 1.044 levels being watched as the next support zones. In upward movements of the pair, the 1.06, 1.064, and 1.0675 resistance levels should be monitored. The RSI indicator is at 54, showing a neutral appearance. It is observed that the pair has seen a 0.14% decline compared to the previous day, indicating that despite its recent rise, the pair may continue to exhibit an overall negative outlook. A sustained move below the 1.0485 level could lead to a deepening of the downward movement.