EURUSD

The EURUSD pair is moving around the pivot level of 1.17996. Technically, 1.18385 is the first resistance and 1.17305 is the first support level. The Eurozone CPI data to be released on Tuesday is significant; the expectation is 2.0%, which indicates the ECB's full target. The speech by Fed Chairman Powell on the same day and the US employment data to be released on Thursday are critically important. The expectation for Non-Farm Payrolls in the US is 120K (previously 139K) and the unemployment rate is expected to rise to 4.3%. Weakness in the labor market may create pressure on the dollar, supporting the pair's move towards the resistance at 1.18687. On downward movements, the support levels of 1.16959 and 1.16614 will be monitored.