EURUSD

The most critical development for the Euro/Dollar parity this week will be the US CPI data to be released on May 13. If inflation, which is expected to rise by 0.3% month-on-month, increases after a 0.1% decline in the previous month, the dollar may strengthen with the expectation that the Fed will continue its tight monetary policy. The CPI data from Germany on May 14 (expectation: 0.4%) will be an important indicator for Eurozone inflation. Powell's speech on Thursday may provide clues about the Fed's interest rate path. Technically, the pivot level of 1.1173 is critical, with a resistance zone of 1.1233-1.1310 above it, and a support zone of 1.0989-1.0948 below it. It is anticipated that selling pressure may continue.