- EUR/USD rejected resistance level
- U.S. Retail Sales m/m
Price Movement
Since yesterday, EUR/USD moved down by around 70pips before moving back up by around 30pips.
Trend
EUR/USD is trending downwards.
Macro Background
The U.S. Retail Sales data measures the change in the total value of sales at the retail level.
It is scheduled to be released tonight at 2130 (SGT).
It is expected to perform worse than previous month. If the released data is worse than or as expected, we may see a weakening in the U.S. dollar and EUR/USD will be moving up.
Important Issue
None.
Technical
Yesterday, EUR/USD tested and rejected the resistance level of 1.13256.
EUR/USD also broke the 1.13 key level.
Price Levels
Current Price: 1.12779
Next Resistance: 1.13256
Next Support: 1.12294
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