EUR /USD pair declined in today’s US session after sellers stepped in, following upbeat US retail sales data, suggesting that economic growth was gaining steam despite a sharp slowdown in job creation. Data also showed t…
EUR /USD pair declined in today’s US session after sellers stepped in, following upbeat US retail sales data, suggesting that economic growth was gaining steam despite a sharp slowdown in job creation.
Data also showed the largest increase in four years in U.S. import prices. The import prices and retail sales data showed the U.S. economy may be regaining its footing and reduced demand for safe-haven government bonds.
Further upside for this pair should be limited as the resistance level at 1.1297 levels should limit upside and bring a decline towards lower levels.
To the upside, the immediate resistance can be seen at 1.1242, a break above this level would take the pair towards next resistance level at 1.1297.
To the downside immediate support can be seen at 1.1187 levels, a break below this level will open the door towards next level at 1.1135.
