EURUSD

The EUR/USD pair has drawn investors' attention to the US inflation data to be announced today. While no changes are expected in the core indicators of October's inflation data, a slight increase is anticipated in headline inflation. These data can shape the expectations for the Federal Reserve's (Fed) interest rate policy at the December meeting. In particular, market expectations regarding Fed's interest rate cuts and statements from Fed officials that may follow the inflation data can influence the pair. Additionally, the recent strong trend of the Dollar Index is also affecting the pair's movements.

Technically, the EUR/USD pair is trading in a region close to the 1.0600 support level on the daily chart. A persistent movement below this level could signal a continuation of the downward trend in the pair. In its upward movements, the levels of 1.0638, 1.0675, and 1.0705 can be monitored as resistance. The RSI indicator is at 44, showing a negative trend. The pair has depreciated by 0.09% compared to the previous day, and the current technical outlook indicates that the downward pressure might continue.