EURUSD Dragged Lower by Strong Dollar Momentum and Surging Oil Prices; U.S. CPI Report Looms in Forecast

On Monday, the pair slipped further, placing downward pressure on its March‑2026 low—the current one‑week floor—and bolstering nearer‑term support through a robust U.S. dollar combined with climbing crude oil prices.

Analysts expect short‑term risk to remain pushed below target levels as markets anticipate the release of upcoming U.S. inflation data (due Wednesday), which could increase speculation about additional Federal Reserve tightening despite broad consensus that the central bank will pause action at the October 28 policy meeting.

Technical reviews show a continuing bearish pattern, though an oversold reading on the relative strength index may offer brief counterweight potential; nonetheless, modest uptick attempts have been contained by a declining ten‑day moving average—an indicator of resilient bearish sentiment.

Res: 1.1215; 1.1242; 1.1276; 1.1320
Sup: 1.1160; 1.1130; 1.1100; 1.1065

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