EURUSD on Wednesday rose 0.38% to 1.09723. What we know.

EURUSD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday0.38%41.3 Pips
Week to-date0.3%33.1 Pips
January-0.59%-65.1 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD CPI Inflation Rate (12-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇪🇺 Euro Area Unemployment Rate in November below forecast and dropped to 6.4% compared to previous figure 6.5% in October Source: Eurostat
🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in November dropped to -4.8% compared to previous figure -3.4% (revised from -3.5%)

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What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.38% to 1.09723. 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 1.09894 with break above could target R2 at 1.10065 or figure level area. While towards the downside, we are looking at daily low of 1.09226 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09731 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:

R31.10399
R21.10065
R11.09894
Daily Pivot1.0956
S11.09389
S21.09055
S31.08884

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