EURUSD

The EUR/USD pair started the week with PMI data related to the manufacturing sector. The Caixin data indicating that China's economic growth rate is increasing, the ISM data suggesting a reduced contraction rate in the US, and the PMI data indicating an increased contraction rate in Europe, all continue the optimism of the Dollar index over the benchmark. Especially Germany's weak economic outlook may bring forward discussions of a rate cut in the European Central Bank's December meeting. The JOLTS data from the US and speeches from Fed official Goolsbee may affect the dollar's position against the Euro.

From a technical perspective, the EUR/USD pair is trading at the 1.0445 support level. In upward movements, the resistance levels of 1.0495 and 1.0535 should be monitored. In downward movements, the support levels of 1.0445, 1.039, and 1.036 can be observed. The RSI indicator is at level 42, indicating that the market is trending negatively. The pair has decreased by 0.09% compared to the previous day. The current technical outlook suggests that the negative trend below the 233-period average may continue.