EURUSD on Tuesday dropped 0% to 1.07400. Pair in consolidation. Why it matters.

EURUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0%	0 Pips
Week to-date	0.35%	37.8 Pips
June	-0.88%	-95.4 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in May rose to 0.9% compared to previous figure 0% in April
🇺🇸 U.S. Monthly Retail Trade (1-mth) in May rose to 0.1% compared to previous figure -0.2, revised from 0% in April Source: Census Bureau
🇩🇪 Germany ZEW Indicator of Economic Sentiment in June rose to 47.5 points compared to previous figure 47.1 points in May Source: ZEW
🇪🇺 Euro Area Core Harmonised Index of Consumer Prices (HICP) (12-mth) in May unchanged at 2.9% compared to previous report in April. Source: Eurostat
🇺🇸 U.S. New York Empire State Manufacturing Index in June improved to -6 points compared to previous figure -15.6 points in May

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What can we expect from EURUSD today?

EURUSD on Tuesday dropped 0% to 1.07400. 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 1.07127 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07615 or trades above daily pivot 1.07371. Break above could target R1 at 1.07644. While to the downside, we are looking at 1.07127 (S1) and daily low of 1.07098 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.07098 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: