EURUSD on Tuesday dropped -0.06% to 1.08444. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.06%	-6.5 Pips
Week to-date	0.24%	25.6 Pips
February	0.24%	26.4 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD GDP Annualized
Thu 07:00 AM EUR Retail Trade Turnover (12-mth)
Thu 01:00 PM EUR CPI Inflation Rate (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau
🇩🇪 Germany Gfk Consumer Confidence Survey in March improved to -29 points compared to previous figure -29.6, revised from -29.7 points in February Source: GfK

Latest from X (Twitter)

Tweets by Eurostat

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.06% to 1.08444. 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 1.08295 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08660 or trades above daily pivot 1.08477. Break above could target R1 at 1.08627. While to the downside, we are looking at 1.08295 (S1) and daily low of 1.08328 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08328 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: