EURUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.14% | -15.4 Pips |  |
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| Week to-date | -1% | -108.5 Pips |  |
||
| April | -0.58% | -62.5 Pips | |
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Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Producer Price Index (1-mth) in March dropped to 0.2% compared to previous figure 0.6% in February 
🇪🇺 Euro Area ECB Interest Rate on main refinancing operations (MRO) unchanged at 4.5% compared to previous rate 4.5% Source: European Central Bank 🇺🇸 U.S. Monthly Budget Statement in March improved to -236$ compared to previous figure -296$ in February Source: Bureau of the Fiscal Service
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What can we expect from EURUSD today?
EURUSD on Thursday dropped -0.14% to 1.07275. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 1.06987 with break below could see further selling pressure towards S2 at 1.067. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.07566 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.06989 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 | 1.08141 |
| R2 | 1.07854 |
| R1 | 1.07564 |
| Daily Pivot | 1.07277 |
| S1 | 1.06987 |
| S2 | 1.067 |
| S3 | 1.0641 |
