EURUSD on Wednesday rose 0.67% to 1.08883. What we know.

EURUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.67%	72 Pips
Week to-date	1.1%	118.9 Pips
May	2.06%	219.3 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Retail Trade Control Group in April dropped to -0.3% compared to previous figure 1, revised from 1.1% in March Source: Census Bureau
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in April dropped to 0.3% compared to previous figure 0.4% in March Source: Bureau of Labor Statistics
🇺🇸 U.S. New York Empire State Manufacturing Index in May dropped to -15.6 points compared to previous figure -14.3 points in April
🇪🇺 Euro Area Industrial Production seasonal adjustment. (1-mth) in March dropped to 0.6% compared to previous figure 1, revised from 0.8% in February
🇪🇺 Euro Area GDP (seasonally adjusted) (3-mth) in Q1 flash estimate unchanged at 0.3% compared to previous report in Q4. Source: Eurostat
🇪🇺 Euro Area Employment Change (3-mth) in Q1 flash estimate unchanged at 0.3% compared to previous report in Q4.
🇺🇸 U.S. Producer Price Index (12-mth) in April rose to 2.2% compared to previous figure 1.8, revised from 2.1% in March
🇺🇸 U.S. Producer Price Index (1-mth) in April rose to 0.5% compared to previous figure -0.1, revised from 0.2% in March
🇩🇪 Germany ZEW Indicator of Economic Sentiment in May rose to 47.1 points compared to previous figure 42.9 points in April Source: ZEW

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What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.67% to 1.08883. 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 1.09146 with break above could target R2 at 1.09409 or figure level area. While towards the downside, we are looking at daily low of 1.08128 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.08900 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bullish as the pair continued to trade higher and is up by 1.1% over the past few days.

Key levels to watch out: