EURUSD on Tuesday dropped -0.15% to 1.09580. What we know.
EURUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.15% | -17 Pips |  | ||
| Week to-date | -0.31% | -34.3 Pips |  | ||
| May | -0.67% | -74 Pips | | ||
Upcoming key events (London Time)
Wed 01:15 PM USD ADP Non-Farm Employment Change Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Wed 07:00 PM USD FOMC Monetary Policy Statement Wed 07:30 PM USD FOMC Press Conference
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What happened lately
🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Census Bureau 🇪🇺 Harmonised Index of Consumer Prices (HICP) (12-mth) in April preliminary estimate exceed forecast and rose to 7% compared to previous figure 6.9% in March Eurostat
🇩🇪 Retail Trade (1-mth) in March below forecast and dropped to -2.4% compared to previous figure -1.3% in February Destatis
What can we expect from EURUSD today?
EURUSD on Tuesday dropped -0.15% to 1.09580. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at S1 1.09371 with break below could see further selling pressure towards S2 at 1.09163. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10066 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09510 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:
| R3 | 1.10483 |
| R2 | 1.10275 |
| R1 | 1.09927 |
| Daily Pivot | 1.09719 |
| S1 | 1.09371 |
| S2 | 1.09163 |
| S3 | 1.08815 |
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Construction Spending. Census Bureau
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