EURUSD – Daily Analysis – 14th December, 2016

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

Currency Event Impact Actual Forecast Previous
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 PPI m/m High 0.1% 0.0%
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

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
EURUSD 1.0597 1.0568 1.0534 1.0660 1.0694 1.0723
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