EURUSD on Wednesday rose 0.41% to 1.08331. What we know.
EURUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.41% | 44.4 Pips |  | ||
| Week to-date | 0.81% | 87.1 Pips | | ||
| June | 1.38% | 147.5 Pips |  | ||
Upcoming key events (London Time)
Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
Thu 01:30 PM USD Monthly Retail Trade (1-mth) Thu 01:45 PM EUR European Central Bank Press Conference Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Interest Rate Projections rose to 5.6% compared to previous rate 5.1% 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.25% compared to previous rate 5.25% Federal Reserve 🇺🇸 U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5% 🇺🇸 U.S. Interest Rate Projections – 1st year rose to 4.6% compared to previous rate 4.3% 🇺🇸 U.S. Interest Rate Projections – 2nd year rose to 3.4% compared to previous rate 3.1% 🇪🇺 Euro Area Industrial Production seasonal adjustment. (1-mth) in April exceed forecast and rose to 1% compared to previous figure -3.8, revised from -4.1% in March 🇺🇸 U.S. CPI Inflation Rate (12-mth) in May below forecast and dropped to 4% compared to previous figure 4.9% in April Bureau of Labor Statistics
🇩🇪 Germany ZEW Indicator of Economic Sentiment in June exceed forecast and improved to -8.5 points compared to previous figure -10.7 points in May ZEW
What can we expect from EURUSD today?
EURUSD on Wednesday rose 0.41% to 1.08331. 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 1.08737 with break above could target R2 at 1.09144 or figure level area. While towards the downside, we are looking at daily low of 1.07730 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08640 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 0.81% over the past few days.
Key levels to watch out:
| R3 | 1.09647 |
| R2 | 1.09144 |
| R1 | 1.08737 |
| Daily Pivot | 1.08234 |
| S1 | 1.07827 |
| S2 | 1.07324 |
| S3 | 1.06917 |
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