Date: 16th December, 2016
Currency Pair: EURUSD
EURUSD has finished the last trading session sharply lower. The pair has been under strong bearish pressure. At present the price is trying to consolidate below mid lines. The immediate support is seen at 1.0340. Any break below the level may push the pair towards 1.0267 and then 1.0168.
On other hand 1.0512 is offering the 1st resistance for today. Above the resistance 1.0611 and 1.0684 are other resistance levels.
EURUSD has been following a sharp bearish slope. From technical perspective US Dollar became strong across the board. For any recovery attempt the price needs to cross 1.0512 for a clear confirmation. Bias is bullish above 1.0512 resistance.
Today’s Economic Events
|USD||TIC Long-Term Purchases||Low||9.4B||-32.3B||-26.2B|
|EUR||Italian Trade Balance||Low||4.21B||3.67B|
|EUR||Final CPI y/y||Medium||0.6%||0.6%|
|EUR||Final Core CPI y/y||Low||0.8%||0.8%|
4 Hours Chart