EURUSD on Wednesday rose 0.06% to 1.08819. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.06%	6.8 Pips
Week to-date	-0.61%	-66.4 Pips
January	-1.41%	-155.5 Pips

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Thu 03:15 PM EUR European Central Bank’s President Christine Lagarde speech

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in December rose to 0.1% compared to previous figure 0.2%
🇺🇸 U.S. Monthly Retail Trade excluding Automobile (1-mth) in December exceed forecast and rose to 0.4% compared to previous figure 0.2% in November
🇪🇺 Euro Area Harmonized Index of Consumer Prices (HICP) (1-mth) in December unchanged at 0.2% compared to previous report in November. The actual figure is also in line with the forecast Source: Eurostat
🇪🇺 Euro Area ZEW Survey – Economic Sentiment in January exceed forecast and dropped to 22.7 points compared to previous figure 23 points in December Source: ZEW
🇩🇪 Germany Harmonised Index of Consumer Prices (HICP) (12-mth) in December unchanged at 3.8% compared to previous report in November. The actual figure is also in line with the forecast Source: Destatis

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What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.06% to 1.08819. 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 1.0856 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.08845 or trades above daily pivot 1.08702. Break above could target R1 at 1.08962. While to the downside, we are looking at 1.0856 (S1) and daily low of 1.08443 as support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.08845 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.61%.

Key levels to watch out: