EURUSD on Tuesday dropped -0.04% to 1.08584. What we know.

EURUSD on Tuesday dropped -0.04% to 1.08584. What we know.

EURUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.04% -4.1 Pips
Week to-date 0.21% 22.4 Pips
April 0.63% 68.4 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 07:00 PM USD FOMC Meeting Minutes
Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in February improved to -4.9% compared to previous figure -5.5% in January

Latest from X (Twitter)

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.04% to 1.08584. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 1.08422 with break below could see further selling pressure towards S2 at 1.08261. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08851 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.08475 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 1.09174
R2 1.09013
R1 1.08798
Daily Pivot 1.08637
S1 1.08422
S2 1.08261
S3 1.08046

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