EURUSD on Thursday dropped -0.28% to 1.06406. Pair in consolidation. What we know.

EURUSD on Thursday dropped -0.28% to 1.06406. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.28% -30.3 Pips
Week to-date 0.02% 2.1 Pips
April -1.38% -149.4 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in April rose to 15.5 points compared to previous figure 3.2 points in March
🇺🇸 In the week ending 13 April, Initial Unemployment Insurance Claims in U.S. was unchanged at 212K compared to previous figure 212K (revised from 211K) Source: Department of Labor
🇪🇺 Euro Area Core Harmonised Index of Consumer Prices (HICP) (12-mth) in March unchanged at 2.9% compared to previous report in February. Source: Eurostat

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What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.28% to 1.06406. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06237 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.06900 or trades above daily pivot 1.06568. Break above could target R1 at 1.06738. While to the downside, we are looking at 1.06237 (S1) and daily low of 1.06399 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.06399 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 1.07239
R2 1.07069
R1 1.06738
Daily Pivot 1.06568
S1 1.06237
S2 1.06067
S3 1.05736

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