🇪🇺 🇺🇸 EURUSD on Thursday dropped -0.83% to 1.06398. What we know.

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.83%	-89.4 Pips
Week to-date	-0.55%	-59.2 Pips
September	-1.86%	-201.7 Pips

Upcoming key events (London Time)

  Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

  U.S. Producer Price Index (12-mth) in August exceed forecast and rose to 1.6% compared to previous figure 0.8% in July
  U.S. Monthly Retail Trade (1-mth) in August exceed forecast and rose to 0.6% compared to previous figure 0.5, revised from 0.7% in July
  Euro Area ECB Interest Rate on main refinancing operations (MRO) exceed forecast and rose to 4.5% compared to previous rate 4.25%
  U.S. Monthly Budget Statement in August exceed forecast and rose to 89$ compared to previous figure -221$ in July
  U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in August dropped to 4.3% compared to previous figure 4.7% in July
  Euro Area Industrial Production seasonal adjustment. (1-mth) in July exceed forecast and dropped to -1.1% compared to previous figure 0.4, revised from 0.5% in June

What can we expect from EURUSD today?

EURUSD on Thursday dropped -0.83% to 1.06398. 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 1.05968 (S1) with break below could see further selling pressure towards 1.05539 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.07521 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.06315 would indicate selling pressure.For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.55%.

Key levels to watch out: