EURUSD on Wednesday dropped -0.2% to 1.09489. Pair in consolidation. Winners and losers

Upcoming key events (London Time)

Thu 01:30 PM USD Initial Unemployment Insurance Claims

What happened lately

Harmonized Index of Consumer Prices (HICP) (1-mth) in March unchanged at 0.9% compared to previous report in February. The actual figure is also in line with the forecast
Building Permits (1-mth) in March below forecast and dropped to 1.413M compared to previous figure 1.55, revised from 1.524M in February
ZEW Survey – Current Situation in April below forecast and improved to -32.5 points compared to previous figure -46.5 points in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Wednesday dropped -0.2% to 1.09489. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09153 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09840 or trades above daily pivot 1.09496. While to the downside, the daily low of 1.09160 and 1.09153 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09160 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: