EURUSD – Daily Analysis – 16th December, 2016

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

Currency Event Impact Actual Forecast Previous
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%
EUR Trade Balance Low 25.2B 24.9B
USD Building Permits High 1.24M
USD Housing Starts Medium 1.23M 1.32M

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
EURUSD 1.0340 1.0267 1.0168 1.0512 1.0611 1.0684
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