EURUSD

As we start this week, low liquidity may be observed in the markets due to Memorial Day in the US and the public holiday in the UK. The data to be released from the US during the week will be critical for the EURUSD pair. US Consumer Confidence, to be announced on Tuesday, FOMC meeting minutes on Wednesday, US Gross Domestic Product (GDP) and Unemployment Claims on Thursday, and Core Personal Consumption Expenditures (PCE) data on Friday will determine the direction of the dollar. In particular, the FOMC minutes and PCE data may cause volatility in the pair by offering clues about the Fed's future monetary policy. The CPI data coming from Germany on Friday may also create movement on the Euro side. Technically, the 1.13425 pivot level is significant. In the event of weak US data, the pair may head towards support levels of 1.13155 (S1), 1.12461 (S2), and 1.11979 (S3). If US data comes in stronger than expectations, it may bring resistance levels of 1.14119 (D1), 1.14389 (D2), and 1.14871 (D3) into focus. It is anticipated that pullbacks may be limited from a technical standpoint.