EURUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.21% | 22.2 Pips |  |
||
| Week to-date | 0.06% | 6 Pips | |
||
| May | -2.57% | -283 Pips |  |
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Upcoming key events (London Time)
Wed 01:30 PM EUR European Central Bank’s President Christine Lagarde speech
What happened lately
USD Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%).
What can we expect from EURUSD today?
EURUSD on Tuesday rose 0.21% to 1.07310. Price is below 9-Day EMA while Stochastic is rising in oversold zone.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06858 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07466 or trades above daily pivot 1.07162. Break above could target R1 at 1.07614. While to the downside, we are looking at 1.06858 (S1) and daily low of 1.06710 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07466 may suggest continuation after recent positive movement.
For the week to-date, take note that EURUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.0837 |
| R2 | 1.07918 |
| R1 | 1.07614 |
| Daily Pivot | 1.07162 |
| S1 | 1.06858 |
| S2 | 1.06406 |
| S3 | 1.06102 |
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