EURUSD

Today’s developments stand out as the most critical day of the week for the currency pair. The FOMC meeting minutes to be published in the evening and the Eurozone CPI data to be released during the day will be influential in determining the direction of EURUSD. Potential hawkish messages in the minutes or Eurozone inflation falling below expectations could increase selling pressure on the pair, thereby strengthening the dollar. The focus of the markets is on Fed Chairman Powell, who will be speaking on Friday.

• Technical Levels: 1.17608 - 1.17314 - 1.16896 - 1.16727 - 1.16308 - 1.16140 - 1.15847
• Technical Comment: The 1.16727 pivot level plays a key role in line with today’s data flow. Maintaining above this level could target the 1.16896 and 1.17314 resistances, while breaking the pivot level due to the data’s effect could bring the 1.16308 and 1.16140 supports into play.