EURUSD on Wednesday rose 0.75% to 1.09914. What we know.
|Performance after Wednesday|
|Week to-date||0.89%||96.8 Pips|
Upcoming key events (London Time)
Thu 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth) | Mar
Fri 01:30 PM USD Retail Trade Turnover (1-mth) | Mar
Fri 03:00 PM USD Michigan Index of Consumer Sentiment | Apr flash
What happened lately
📆 🇺🇸 USD CPI Inflation Rate (12-mth) | Mar in March below forecast and dropped to 5% compared to previous figure 6% in February. Bureau of Labor Statistics
What can we expect from EURUSD today?
EURUSD on Wednesday rose 0.75% to 1.09914. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for EURUSD looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.10248 with break above could target R2 at 1.10581 or figure level area. While towards the downside, we are looking at daily low of 1.09093 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10004 may suggest continuation 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 0.89% over the past few days.
Key levels to watch out:
You might be interested in:
Minutes of the Federal Open Market Committee, March 21-22, 2023. Federal Reserve
CPI for all items rises 0.1% in March as shelter increases. Bureau of Labor Statistics Publications
Monthly Wholesale Trade: Sales and Inventories. Census Bureau
Volume of retail trade down by 0.8% in the euro area and by 0.9% in the EU. Eurostat
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