EURUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.11% -11.7 Pips
Week to-date -0.59% -65 Pips
September -0.53% -58.2 Pips
Upcoming key events (London Time)

Wed 02:00 AM USD Second 2024 United States presidential debate
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Thu 01:15 PM EUR ECB Interest Rate on main refinancing operations (MRO)
Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Thu 01:45 PM EUR ECB Monetary Policy Press Conference

What happened lately

No major activities.

What can we expect from EURUSD today?

EURUSD on Tuesday dropped -0.11% to 1.10222. 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 S1 1.10081 with break below could see further selling pressure towards S2 at 1.09941. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.10498 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.10149 would indicate selling pressure.