EUR/USD pared some of its gains after weak German retail sales. It hits an intraday low of 1.15554 and is currently trading around 1.15578. Intraday trend remains bearish as long as resistance 1.1670 holds.
The retail sales of Germany in October 2025, which were released today by Destatis, didn't really improve from their situation in the preceding months and thus continued a slow streak that has been going on for a while. Following the minimal 0.2% MoM increase (the smallest YoY growth in 14 months) that was recorded in September, the most recent data indicate that food sales are still able to make little progress,s whereas non-food categories are getting weaker and only online/mail-order are a few areas where the situation is getting better. Since there have been deeper declines in the previous months (-1.5% MoM in July and -0.2% in August), the ongoing softness shows that domestic demand is deteriorating and thus the ECB gets under more pressure to decide the next step in its policy as the e
The pair is holding below the 55 EMA, 200 EMA, and 365 EMA in the 15-minute chart. Near-term resistance is seen at 1.15750; a break above this may push the pair to targets of 1.16000/1.1670/1.1700/1.1765/1800/1.1835/1.1850/1.1920. On the downside, support is seen at 1.1500; any violation below will drag the pair to 1.1435/1.1400.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Bearish
Average Directional Movement Index (ADX) - Bearish
It is good to sell on rallies around 1.15750 with a stop-loss at 1.1620 for a target price of 1.1435.
