EURUSD on Wednesday dropped -1.06% to 1.07428. What we know.

EURUSD on Wednesday dropped -1.06% to 1.07428. What we know.

EURUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -1.06% -114.7 Pips
Week to-date -0.86% -93.2 Pips
April -0.44% -47.2 Pips

Upcoming key events (London Time)

Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

No major activities.

Latest from X (Twitter)

What can we expect from EURUSD today?

EURUSD on Wednesday dropped -1.06% to 1.07428. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 1.0692 with break below could see further selling pressure towards S2 at 1.06413. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08665 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07285 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:

R3 1.0968
R2 1.09173
R1 1.083
Daily Pivot 1.07793
S1 1.0692
S2 1.06413
S3 1.0554

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