EURUSD on Wednesday rose 0.85% to 1.08596. What we know.

EURUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.85%	92 Pips
Week to-date	1.84%	195.7 Pips
March	2.68%	283.2 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Durable Goods Orders
Fri 12:30 PM USD Nondefense Capital Goods excluding Aircraft

What happened lately

📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision (Federal Funds Rate) rose to 5% compared to previous rate 4.75%. Source
📆 🇩🇪 EUR ZEW Survey – Economic Sentiment in March below forecast and dropped to 13 points compared to previous figure 28.1 points in February. Source

What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.85% to 1.08596. 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 at 1.09291 (R1) while on the downside, we are looking at daily low of 1.07570 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.09125 would suggest bullish bias 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 1.84% over the past few days.

Key levels to watch out:

You might be interested in:

Federal Reserve Board and Federal Open Market Committee release economic projections from the March 21-22 FOMC meeting Source: Federal Reserve
Federal Reserve issues FOMC statement Source: Federal Reserve
Philip R. Lane: Inflation and Monetary Policy Source: European Central Bank
Growth is holding up, inflation too Source: INSEE
Between October 2022 and January 2023, rents increased by 1.4% Source: INSEE
Production in construction up by 3.9% in the euro area and by 3.5% in the EU Source: Eurostat
Quarterly Financial Report Source: Census Bureau
Quarterly Financial Report – Retail Source: Census Bureau
Euro area international trade in goods deficit €30.6 bn Source: Eurostat
Euro area job vacancy rate at 3.1% Source: Eurostat
Coordinated central bank action to enhance the provision of U.S. dollar liquidity Source: Federal Reserve

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