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Forex pairs in this Article » EUR/USD (Edinburgh) -The single currency is posting meager gains on Friday, with the EUR/USD hovering over 1.3250 after poor data from German retail sales.

EUR/USD in better mood

Syrian jitters have receded during Thursday, as a US intervention seems now to be on hold pending a UN final decision on the usage of chemical weapons by the Damascus regime, giving some sort of oxygen to the pair. In the data front, German retail sales came in on the soft side, contracting 1.4% MoM in July vs. expectations for a rise of 0.5%. Ahead in the day, EMU’s unemployment rate plus several gauges of confidence and the preliminary consumer prices will grab investors’ attention. Across the pond, PCE, Personal Spending/Income and the final Reuters/Michigan index will be in the limelight.

EUR/USD key levels

At the moment the pair is up 0.05% at 1.3249 with the initial resistance at 1.3343 (high Aug.29) followed by 1.3358 (MA10d) and then 1.3399 (high Aug.28). On the downside, a breach of 1.3206 (low Aug.5) would aim for 1.3188 (low Aug.2) and finally 1.3164 (low Jul.23).
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