EURUSD on Wednesday dropped -0.2% to 1.09489. Pair in consolidation. What we know.
|Performance after Wednesday|
|Week to-date||-0.38%||-42.1 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇪🇺 Harmonized Index of Consumer Prices (HICP) (1-mth) in March unchanged at 0.9% compared to previous report in February. The actual figure is also in line with the forecast Eurostat
🇺🇸 Building Permits (1-mth) in March below forecast and dropped to 1.413M compared to previous figure 1.55, revised from 1.524M in February Census Bureau
🇩🇪 ZEW Survey – Current Situation in April below forecast and improved to -32.5 points compared to previous figure -46.5 points in March
What can we expect from EURUSD today?
EURUSD on Wednesday dropped -0.2% to 1.09489. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09153 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09840 or trades above daily pivot 1.09496. Break above could target R1 at 1.09833. While to the downside, we are looking at 1.09153 (S1) and daily low of 1.09160 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09160 would indicate selling pressure.
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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Minutes of the Board’s discount rate meetings from February 21 through March 22, 2023. Federal Reserve
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Business Formation Statistics. Census Bureau
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