Dollar drops on US Retail Sales - FXStreet

By FXstreet.com | Updated August 13, 2014 AAA

As FXStreet Chief Analyst Valeria Bednarik notes, the disappointing US July Retail Sales numbers pushed the USD sharply down on Wednesday and EUR/USD jumped above 1.3400 early US session.

Key quotes

"The hourly chart shows retracing some from daily high posted at 1.3414 with a strong upward momentum coming from technical readings, and price above moving averages."



"In the 4 hours chart price stalled at a bearish 100 SMA, with indicators also aiming higher above their midlines."



"Immediate support stands at 1.3370, and as long as above it, the pair has scope to extend its rally up to 1.3430/40 area, level that capped the upside for the last 3 weeks."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Forex Sentiment & Volume Analysis - EURUSD

  2. Forex News

    Forecast: Dollar Faces NFPs, Euro Anticipating Greece and Risk Languishes

  3. Forex News

    Fed Fear Builds USD, Greece Unnerves the Euro but S&P Yet to Collapse

  4. Forex News

    A glance at the strong dollar and implications - BBH

  5. Forex News

    EUR/USD: Extraordinary price action - Rabobank

Trading Center