EURUSD on Wednesday rose 0.62% to 1.10688. What you need to know.
|Performance after Wednesday|
|Week to-date||0.5%||54.8 Pips|
Upcoming key events (London Time)
Thu 01:15 PM EUR European Central Bank Monetary Policy Decision Statement
Thu 01:15 PM EUR ECB Interest Rate on deposit facility
Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
Thu 01:45 PM EUR European Central Bank Press Conference
Thu 03:15 PM EUR European Central Bank’s President Christine Lagarde speech
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve
🇪🇺 Unemployment Rate in March below forecast and dropped to 6.5% compared to previous figure 6.6% in February Eurostat
🇺🇸 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 Wednesday rose 0.62% to 1.10688. 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 1.11054 with break above could target R2 at 1.1142 or figure level area. While towards the downside, we are looking at daily low of 1.10046 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.10916 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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