EURUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.41% | 45.2 Pips |  |
||
| Week to-date | -0.08% | -8.8 Pips |  |
||
| April | 1.3% | 140.9 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 Building Permits (1-mth) in March below forecast and dropped to 1.413M compared to previous figure 1.55, revised from 1.524M in February Census Bureau
🇩🇪 ZEW Survey – Current Situation in April below forecast and improved to -32.5 points compared to previous figure -46.5 points in March
What can we expect from EURUSD today?
EURUSD on Tuesday rose 0.41% to 1.09705. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09333 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09830 or trades above daily pivot 1.09582. Break above could target R1 at 1.09953. While to the downside, we are looking at 1.09333 (S1) and daily low of 1.09210 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09830 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 | 1.10573 |
| R2 | 1.10202 |
| R1 | 1.09953 |
| Daily Pivot | 1.09582 |
| S1 | 1.09333 |
| S2 | 1.08962 |
| S3 | 1.08713 |
You might be interested in:
Minutes of the Board’s discount rate meetings from February 21 through March 22, 2023. Federal Reserve New Residential Construction. Census Bureau Business Formation Statistics. Census Bureau
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