EURUSD

The EUR/USD pair is focused on the US November inflation data, the European Central Bank's interest rate decision, and President Lagarde's speech, all carefully watched by global markets this week. It is considered that US inflation data could affect interest rate cut expectations for the Fed meeting on December 18. The limited movement of the dollar index keeps on the agenda a scenario where the compression trend between the 105 – 108 range may continue until the end of the year. The ECB's interest rate decision from Europe could lead to more distinct movements on the Euro.

Technically, the EUR/USD pair is trading at the 1.05234 level. In upward movements in the pair, resistance levels of 1.0543, 1.06, and 1.064 can be monitored. In downward movements, the support levels of 1.0485, 1.044, and 1.039 play an important role. The RSI indicator is approximately at the 45 level, showing a neutral outlook. The pair has declined by 0.04% compared to yesterday's close. If the movement falls below the level of 1.0485, a decline to the level of 1.0330 may be seen. However, if the current compression process continues, the pair is likely to fluctuate between 1.0485 and 1.0600.