EURUSD

The EUR/USD pair will witness several significant economic data releases and central bank official speeches that markets will focus on at the beginning of this week. The CPI data from the US and Germany, as well as the core retail sales data from the US, could influence the direction of the pair. Additionally, speeches from the Fed, ECB, and BoE presidents, along with statements from Fed members, will be closely monitored events. The Classic Dollar Index maintains its upward trend by staying above support levels. This situation may cause the EUR/USD pair to be under downward pressure in the short term.

From a technical perspective, the EUR/USD pair is trading around the 1.0712 level. The 1.0675, 1.0638, and 1.0600 support levels are crucial for its downward movements. In terms of upward movements, the 1.0735, 1.077, and 1.080 resistance levels can be monitored. The RSI indicator is below the 30 level, showing a negative outlook and indicating an oversold region. This increases the possibility of a short-term recovery in the pair. However, strong upward momentum is necessary to change the general trend. The pair has shown a decrease of 0.05% compared to the previous day.