EURUSD on Monday rose 0.63% to 1.09060. Pair in consolidation. What we know.
|Performance after Monday|
|Week to-date||0.63%||67.9 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
📆 🇺🇸 USD S&P Global Manufacturing PMI | Mar in March below forecast and dropped to 49.2 points compared to previous figure 49.3 points in February. Source:
📆 🇩🇪 EUR S&P Global/BME Manufacturing PMI | Mar in March exceed forecast and rose to 44.7 points compared to previous figure 44.4 points in February. Source:
What can we expect from EURUSD today?
EURUSD on Monday rose 0.63% to 1.09060. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08231 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09166 or trades above daily pivot 1.08699. While to the downside, the daily low of 1.07870 and 1.08231 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09166 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
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Inflation rate expected in March 2023 +7.4% Source: Statistisches Bundesamt (Destatis)
Payroll employment rises by 311,000 in February; unemployment rate edges up to 3.6% Source: Bureau of Labor Statistics Publications
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