FXStreet (San Francisco) - The Euro accelerates its gains versus the US Dollar as the pair reacted positive after the weaker than expected US retail sales data.



The EUR/USD jumped around 50 pips post data to trade above the 1.3400 area and price t daily highs around 1.3405. US dollar is trading under pressure as data, unchanged in July, was below 0.2% rise expected by market.



Currently, EUR/USD is trading at 1.3398, up 0.22% on the day, having posted a daily high at 1.3407 and low at 1.3342. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.



EUR/USD sentiment



"Small offers are seen at 1.3395/1.3400 but another batch of stops are seen just above that level. If triggered, the familiar 1.3430/50 zone becomes the next battle ground," Jamie Coleman from FXBeat comments. "A move through that area should prompt a test of the downtrend at 1.3480."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD off highs near 1.0970

  2. Forex News

    Sell the rallies in EUR/USD – BTMU

  3. Forex News

    Trade Setups in USD-pairs Around Q1’15 GDP Revision

  4. Forex News

    EUR/USD firmer, 1.10 looms

  5. Forex News

    EUR weakness set to persist – TDS

Trading Center