🇪🇺 🇺🇸 EURUSD on Thursday rose 0.8% to 1.07835. What we know.

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What happened lately

In the week ending 03 June, U.S. Initial Unemployment Insurance Claims rose to 261K compared to previous figure 233K (revised from 232K)
Euro Area GDP (seasonally adjusted) (3-mth) in Q1 below forecast and dropped to -0.1% compared to previous figure 0.1% in Q4
U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$)

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Thursday rose 0.8% to 1.07835. Price is above 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate upside resistance level is at 1.08137 (R1) while on the downside, we are looking at daily low of 1.07000 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07871 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 0.72% over the past few days.

Key levels to watch out: