EURUSD on Tuesday dropped 0% to 1.09215. Pair in consolidation. What we know.
EURUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0% | 0.2 Pips |  | ||
| Week to-date | -0.17% | -18.6 Pips | | ||
| June | 2.21% | 235.9 Pips |  | ||
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What happened lately
🇺🇸 U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April Census Bureau
🇩🇪 Germany Producer Price Index (1-mth) in May exceed forecast and dropped to -1.4% compared to previous figure 0.3% in April Federal Statistical Office (Destatis)
What can we expect from EURUSD today?
EURUSD on Tuesday dropped 0% to 1.09215. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08929 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09462 or trades above daily pivot 1.09196. Break above could target R1 at 1.09481. While to the downside, we are looking at 1.08929 (S1) and daily low of 1.08910 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08910 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 | 1.10033 |
| R2 | 1.09748 |
| R1 | 1.09481 |
| Daily Pivot | 1.09196 |
| S1 | 1.08929 |
| S2 | 1.08644 |
| S3 | 1.08377 |
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