EURUSD on Tuesday rose 0.03% to 1.07320. Pair in consolidation. What we know.

EURUSD on Tuesday rose 0.03% to 1.07320. Pair in consolidation. What we know.

Open High Low Close
1.07305 1.07505 1.06785 1.07320

Performance after Tuesday
Period Pct Chg Momentum
Tuesday 0.03% 3 Pips
Week to-date 1.07% 114 Pips
March 1.7% 180 Pips

Upcoming key events (London Time)

Wed 12:30 PM USD Retail Sales (1-mth)
Wed 12:30 PM USD Retail Control Group
Thu 01:15 PM EUR European Central Bank Monetary Policy Decision Statement
Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)

What happened lately

📆 ☢️ 🇺🇸 USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.4% in January. Source

What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.03% to 1.07320. Price is above 9-Day EMA while Stochastic is rising but in overbought zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06902 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07505 or trades above daily pivot 1.07203. While to the downside, the daily low of 1.06785 and 1.06902 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07505 would suggest bullish bias after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 1.07% over the past few days.

Key levels to watch out:

R3 1.08342
R2 1.07923
R1 1.07622
Daily Pivot 1.07203
S1 1.06902
S2 1.06483
S3 1.06182

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