EURUSD on Wednesday rose 0.04% to 1.06980. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.04%	4.6 Pips
Week to-date	-0.07%	-8 Pips
June	0.12%	12.4 Pips

Upcoming key events (London Time)

Thu 10:00 AM EUR GDP (seasonally adjusted) (3-mth)
Thu 10:00 AM EUR GDP (seasonally adjusted) (12-mth)

What happened lately

🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$)
🇪🇺 Retail Trade Turnover (12-mth) in April dropped to -2.6% compared to previous figure -3.3% in March (revised from -3.8%) Eurostat

What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.04% to 1.06980. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06634 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07398 or trades above daily pivot 1.07016. Break above could target R1 at 1.07362. While to the downside, we are looking at 1.06634 (S1) and daily low of 1.06670 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.07398 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:

You might be interested in:

U.S. International Trade in Goods and Services. Census Bureau
Quarterly Financial Report. Census Bureau
Quarterly Financial Report – Retail. Census Bureau
Volume of retail trade unchanged in the euro area and up by 0.1% in the EU. Eurostat
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Industrial producer prices down by 3.2% in the euro area and by 2.9% in the EU. Eurostat

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