EURUSD on Tuesday dropped -0.35% to 1.09657. What we know.

Upcoming key events (London Time)

Wed 07:00 AM EUR Harmonised Index of Consumer Prices (HICP) (12-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth)
Thu 01:30 PM USD Initial Unemployment Insurance Claims

What happened lately

No major activities.

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.35% to 1.09657. Price is below 9-Day EMA while Stochastic is falling.

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

Looking ahead for the day, immediate support level is at 1.09369 (S1) with break below could see further selling pressure towards 1.09081 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10007 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.09400 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: