EUR/USD parked around 1.1320 post-US Retail Sales

The pair stays apathetic around 1.1320 on US data.
DXY keeps the bid tone although off fresh lows near 97.00.
US Retail Sales came in above estimates in July.

Pablo Piovano FXStreet

The European currency keeps the bearish note intact so far today, with EUR/USD gyrating around the 1.1320 region in the wake of US publications.

EUR/USD holds on above 1.1300

Spot manages to keep the trade above the 1.1300 handle today after US headline Retail Sales surprised to the upside expanding at a monthly 0.5%. Sales excluding the Autos sector followed suit, expanding 0.6% inter-month.

Further positive releases in the US docket saw the NY Empire State manufacturing gauge coming in at 25.6 for the current month vs. forecasts at 20.3.

Spot remains under pressure so far today, following the generalized sentiment around the EM FX universe and the broad-based bid tone surrounding the buck.

EUR/USD levels to watch

At the moment, the pair is down 0.17% at 1.1326 facing the next support at 1.1309 (2018 low Aug.15) seconded by 1.1300 (psychological level) and then 1.1188 (61.8% Fibo of 2017-2018 up move). On the upside, a breakout of 1.1360 (200-week SMA) would aim for 1.1494 (10-day SMA) and finally 1.1591 (21-day SMA).

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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