EURUSD on Tuesday dropped -0.16% to 1.09318. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.16%	-17.7 Pips
Week to-date	-0.07%	-7.4 Pips
January	-0.96%	-105.6 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD CPI Inflation Rate (12-mth)

What happened lately

🇪🇺 Euro Area Unemployment Rate in November below forecast and dropped to 6.4% compared to previous figure 6.5% in October Source: Eurostat
🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in November dropped to -4.8% compared to previous figure -3.4% (revised from -3.5%)
🇪🇺 Euro Area Retail Trade Turnover (12-mth) in November below forecast and improved to -1.1% compared to previous figure -1.2% in October Source: Eurostat
🇪🇺 Euro Area Economic Sentiment Indicator in December rose to 96.4 points compared to previous figure 94 points (revised from 93.8 points)
🇪🇺 Euro Area Sentix Investor Confidence in January exceed forecast and improved to -15.8 points compared to previous figure -16.8 points in December

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What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.16% to 1.09318. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09058 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09663 or trades above daily pivot 1.09361. Break above could target R1 at 1.0962. While to the downside, we are looking at 1.09058 (S1) and daily low of 1.09101 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09101 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: