EURUSD on Wednesday dropped 0% to 1.09294. Pair in consolidation. What we know.

EURUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0%	0.4 Pips
Week to-date	0.17%	18.6 Pips
August	0.97%	105.5 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇩🇪 Germany’s industrial production, not seasonally adjusted and working day adjusted (12-month), improved to -4.1% in June compared to the previous figure of -6.7% in May.
Germany’s seasonally adjusted industrial production increased to 1.4% in June, up from -2.5% in May.
Germany’s trade balance, adjusted for seasonal variations, dropped to €20.4 billion in June from the previous figure of €24.9 billion in May. Source: Destatis
Euro Area retail trade turnover for June decreased to -0.3% from 0.1% in May. Source: Eurostat
🇪🇺 Euro Area Retail Trade Turnover (12-mth) in June dropped to -0.3% compared to the previous figure of 0.5%, revised from 0.3% in May. Source: Eurostat
In June, Germany’s factory orders with seasonal adjustment rose by 3.9%, compared to the previous figure of -1.6% in May.
Germany’s unadjusted factory orders for June decreased to -11.8% year-on-year, compared to -8.6% in May.
🇩🇪 Germany’s seasonally adjusted factory orders for June increased to 3.9%, up from -1.6% in May.

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What can we expect from EURUSD today?

EURUSD on Wednesday dropped 0% to 1.09294. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09107 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09366 or trades above daily pivot 1.09237. Break above could target R1 at 1.09423. While to the downside, we are looking at 1.09107 (S1) and daily low of 1.09050 as support levels. EURUSD need to break on either side to indicate a short-term bias. A close below 1.09050 would indicate selling pressure.

For the week to-date, take note that EURUSD is mixed as compared to the prior week.

Key levels to watch out:

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