Date: 14th December, 2016
Currency Pair: EURUSD
EURUSD has been hovering in a quite limited range, lacking any proper direction. Currently the pair is ranging near daily pivot level i.e. 1.0631. Only a break above 1.0660 will favour the price to move further up. Once it happens 1.0694 and 1.0723 will come into play.
As far as downside movement is concerned 1.0597 support level would able to defend the price from any downfall. Below the level 1.0568 ad 1.0534 are other support levels.
As we can view in the technical chart there is no proper directional move. Since yesterday we’ve not seen any significant movement from the pair. Recently the pair has able to overcome from strong support level. Any continuation towards up, the price needs to cross 1.0660 i.e. 1st resistance for today. Bias is bullish above the said level.
Today’s Economic Events
|EUR||French Final CPI m/m||Low||0.0%||0.0%|
|EUR||Industrial Production m/m||Low||0.2%||-0.8%|
|USD||Core Retail Sales m/m||High||0.4%||0.8%|
|USD||Retail Sales m/m||High||0.3%||0.8%|
|USD||Core PPI m/m||Medium||0.2%||-0.2%|
|USD||Capacity Utilization Rate||Medium||75.1%||75.3%|
|USD||Industrial Production m/m||Medium||-0.2%||0.0%|
|USD||Business Inventories m/m||Low||-0.1%||0.1%|
|USD||Crude Oil Inventories||High||-2.4M|
4 Hours Chart