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Forex pairs in this Article » EUR/USD
FXStreet (Edinburgh) - The EUR/USD is now off session highs beyond 1.3680, returning to the 1.3665/60 region ahead of US retail sales.

EUR/USD poised for further upside?

The pair could well see the current bull run extended should consensus about retail sales in the US economy materializes, with the interim barrier being the 1.3700 handle. Prior surveys expect headline sales to come in flat and the core reading (excluding the Auto sector) to have advanced a meager 0.1% during January. The weekly report on Initial Claims would be another gauge of the sentiment surrounding the pair today (330K expected from 331K). “Short-term technical indicators warn of the risk that the euro is range-bound. Stops are thought to be stacked above $1.3700, but beware of stops being triggered only to see the euro quickly reverse, which is what happened on January 24”, assessed analysts at BBH Global Currency Strategy Team.

EUR/USD levels to consider

The pair is now advancing 0.52% at 1.3665 and a breakout of 1.3685 (high Jan.29) would target 1.3689 (high Jan.28) en route to 1.3716 (high Jan.27). On the downside, the initial support is parked at 1.3572 (10-d MA) followed by 1.3563 (low Feb.12) and finally 1.3552 (low Feb.7).
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