EURUSD on Tuesday rose 0.03% to 1.07320. Pair in consolidation. What we know.
EURUSD by TradingView
| Tuesday | |||
| Open | High | Low | Close |
| 1.07305 | 1.07505 | 1.06785 | 1.07320 |
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.03% | 3 Pips |  | ||
| Week to-date | 1.07% | 114 Pips |  | ||
| March | 1.7% | 180 Pips | | ||
Upcoming key events (London Time)
Wed 12:30 PM USD Retail Sales (1-mth) Wed 12:30 PM USD Retail Control Group
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What happened lately
📆 ☢️ 🇺🇸 USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.4% in January. Source
What can we expect from EURUSD today?
EURUSD on Tuesday rose 0.03% to 1.07320. Price is above 9-Day EMA while Stochastic is rising but in overbought zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06902 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07505 or trades above daily pivot 1.07203. While to the downside, the daily low of 1.06785 and 1.06902 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07505 would suggest bullish bias after recent positive movement.
For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 1.07% over the past few days.
Key levels to watch out:
| R3 | 1.08342 |
| R2 | 1.07923 |
| R1 | 1.07622 |
| Daily Pivot | 1.07203 |
| S1 | 1.06902 |
| S2 | 1.06483 |
| S3 | 1.06182 |
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