EURUSD on Tuesday dropped -0.03% to 1.08327. Pair in consolidation. How it happened.

EURUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.03%	-3.2 Pips
Week to-date	0.26%	27.7 Pips
March	0.25%	27.4 Pips

Upcoming key events (London Time)

Thu 07:00 AM EUR Retail Trade Turnover (12-mth)
Thu 12:30 PM USD GDP Annualized

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in January dropped to -0.1% compared to previous figure 0.1% in December
🇺🇸 U.S. Durable Goods Orders in February rose to -6.1% compared to previous figure -6.9% (revised from -6.1%) Source: Census Bureau
🇩🇪 Germany Gfk Consumer Confidence Survey in April improved to -27.4 points compared to previous figure -28.8, revised from -29 points in March Source: GfK
🇺🇸 U.S. New-Home Sales Change (1-mth) in February dropped to -0.3% compared to previous figure 1.7, revised from 1.5% in January

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What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.03% to 1.08327. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.08164 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08643 or trades above daily pivot 1.08403. Break above could target R1 at 1.08567. While to the downside, we are looking at 1.08164 (S1) and daily low of 1.08240 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.08240 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: