EURUSD on Tuesday rose 0.02% to 1.09279. Pair in consolidation. How it happened.

EURUSD Analysis

Performance after Tuesday
Tuesday0.02%2.2 Pips
Week to-date-0.09%-10.2 Pips
March1.13%122.6 Pips

Upcoming key events (London Time)

Thu 12:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Thu 12:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

No major activities.

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What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.02% to 1.09279. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09054 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09438 or trades above daily pivot 1.09246. Break above could target R1 at 1.09471. While to the downside, we are looking at 1.09054 (S1) and daily low of 1.09021 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09438 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:

Daily Pivot1.09246

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