EURUSD

The EURUSD pair has fallen below the critical 1.16803 pivot level after failing to break the 1.17189 resistance. This situation indicates that selling pressure on the pair has increased. The main data that will determine the course of the pair this week will be the CPI (inflation) figures coming from Europe and Germany. In particular, a rise above expectations (2.2%) in the Eurozone Annual CPI data to be announced on October 1 could support the pair by strengthening the perception that the ECB will maintain its hawkish stance and might push the price back to the 1.17189 resistance. Conversely, inflation falling below expectations or a strong Non-Farm Payrolls report coming from the U.S. on Friday could strengthen the dollar and deepen selling in the pair. In this scenario, the first target will be the 1.16077 Support Level 1. The pair will be a battleground for the strength struggle between U.S. and Eurozone data throughout the week.