EURUSD

We observe that the markets, which were alarmed by the March CPI data, have largely been relieved of their current fears with the April CPI data. Although a performance below the March figures was displayed on an annual basis, the results that were parallel to expectations ensure that the rigidity of inflation remains on the agenda. In this respect, we can focus more on the results of the PCE data, the Fed's inflation indicator, at the end of the month. For now, the idea that two interest rate cuts may be made in 2024 (CME FedWatch) continues. While the decrease in fears on the pricing side created significant pressure on the Dollar Index, the increases in the EURUSD and GBPUSD parities drew attention. The 1.0887 level can be followed in intraday upward movements. If this level is exceeded, the resistances of 1.0896, 1.0906 and 1.0915 may become important. In possible pullbacks, 1.0878, 1.0869 and 1.0859 will be monitored as support levels. Support: 1.0878 – 1.0869 Resistance: 1.0906 – 1.0915