EURUSD on Wednesday rose 0.6% to 1.08380. What we know.

EURUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.6%	64.6 Pips
Week to-date	0.44%	48 Pips
April	0.44%	48 Pips

Upcoming key events (London Time)

Fri 10:00 AM EUR Retail Trade Turnover (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇪🇺 Euro Area Harmonized Index of Consumer Prices (HICP) (1-mth) in March flash estimate rose to 0.8% compared to previous figure 0.6% in February Source: Eurostat
🇪🇺 Euro Area Unemployment Rate in February unchanged at 6.5% compared to previous report in January. Source: Eurostat
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in February rose to 8.756M compared to previous figure 8.748, revised from 8.863M in January Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in February rose to 1.4% compared to previous figure -3.8, revised from -3.6% in January Source: Census Bureau
🇩🇪 Germany Harmonized Index of Consumer Prices (1-mth) in March flash estimate unchanged at 0.6% compared to previous report in February.
🇩🇪 Germany CPI Inflation Rate (12-mth) in March flash estimate dropped to 2.2% compared to previous figure 2.5% in February
🇩🇪 Germany CPI Inflation Rate (1-mth) in March flash estimate unchanged at 0.4% compared to previous report in February.
🇩🇪 Germany Harmonised Index of Consumer Prices (HICP) (12-mth) in March flash estimate dropped to 2.3% compared to previous figure 2.7% in February Source: Destatis

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What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.6% to 1.08380. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.08634 with break above could target R2 at 1.08889 or figure level area. While towards the downside, we are looking at daily low of 1.07637 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08390 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: