EURUSD

The EURUSD pair shows a positive reaction as the Classic Dollar Index experiences pressure near its October 2023 peak levels. The pullback of the index has had a positive impact on the pair. However, the potential for the index to maintain its upward trend could change depending on weekly macroeconomic developments. If the index can maintain above the 107 level, this could increase the likelihood of moving towards its November 2022 level of 109.25. This process creates a situation that should be closely monitored in the EURUSD pair.

From a technical perspective, the EURUSD pair is trading below the 1.0560 level on the 1-hour chart, indicating a weak trend. The initial support levels for the pair are highlighted as 1.056, 1.0525, and 1.049, while the resistance levels are monitored at 1.06, 1.0638, and 1.0675. The RSI indicator is at the 45 level, suggesting a slightly negative market outlook. The pair shows a decrease of 0.12% compared to the previous day. In this context, if pricing below 1.0560 continues, the downward trend may be maintained, but in case of recovery efforts, it is crucial to closely follow the resistance levels.