🇪🇺 🇺🇸 EURUSD on Monday dropped -0.16% to 1.07080. Pair in consolidation. Things to look out.

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EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Monday dropped -0.16% to 1.07080. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.06935 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.07435 or trades above daily pivot 1.07185. While to the downside, the daily low of 1.07040 and 1.06935 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.07040 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to prior week.

Key levels to watch out: