Dollar drops on US Retail Sales - FXStreet

By FXstreet.com | 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."



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY Traders Await Clearer Guidance As A Doji Signals Hesitation
    Forex News

    USD/JPY Traders Await Clearer Guidance As A Doji Signals Hesitation

  2. USD/JPY is dancing around 107.00
    Forex News

    USD/JPY is dancing around 107.00

  3. USD/CAD Tests Critical Barrier As Intraday Dojis Denote Indecision
    Forex News

    USD/CAD Tests Critical Barrier As Intraday Dojis Denote Indecision

  4. NZD/USD Stalls At 0.8000 Barrier As A Doji Arises & Volume Fades
    Forex News

    NZD/USD Stalls At 0.8000 Barrier As A Doji Arises & Volume Fades

  5. EUR/USD sidelined above 1.2700
    Forex News

    EUR/USD sidelined above 1.2700

Trading Center