🇪🇺 🇺🇸 EURUSD on Thursday dropped -0.58% to 1.07760. Winners and losers.

Upcoming key events (London Time)

Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

Philadelphia Fed Manufacturing Survey in May below forecast and improved to -10.4 points compared to previous figure -31.3 points in April
USD Building Permits (1-mth) in April dropped to 1.416M compared to previous figure 1.437M (revised from 1.413M).
Harmonized Index of Consumer Prices (HICP) (1-mth) in April below forecast and dropped to 0.6% compared to previous figure 0.7% in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.58% to 1.07760. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at 1.0742 (S1) with break below could see further selling pressure towards 1.0708 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08480 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07610 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.65%.

Key levels to watch out:

Upcoming key events (London Time)

Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

Philadelphia Fed Manufacturing Survey in May below forecast and improved to -10.4 points compared to previous figure -31.3 points in April
USD Building Permits (1-mth) in April dropped to 1.416M compared to previous figure 1.437M (revised from 1.413M).
Harmonized Index of Consumer Prices (HICP) (1-mth) in April below forecast and dropped to 0.6% compared to previous figure 0.7% in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.58% to 1.07760. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for EURUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at 1.0742 (S1) with break below could see further selling pressure towards 1.0708 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.08480 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.07610 would indicate selling pressure.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.65%.

Key levels to watch out: