• The EUR /USD pair inched higher on Friday as dollar gave up some ground after data showed U.S. retail sales increased less-than-expected in April.
   
• U.S. retail sales increased in April as households bought more motor vehicles and a range of other goods, suggesting the economy was regaining momentum after almost stalling in the first quarter.
   
• The Commerce Department said on Friday retail sales rose 0.4 percent last month. March's retail sales were revised up to show a 0.1 percent gain instead of the previously reported 0.2 percent drop.
   
• Further upside for this pair is expected to be limited as strong resistance level at 1.0977 is set to limit upside and bring decline towards lower levels.
   
• To the upside, the immediate resistance can be seen at 1.0922, a break above this level would expose the pair to next resistance level at 1.0977.
   
• To the downside, immediate support can be seen at 1.0870, a break below at this level will open the door towards next level at 1.0833.
  
  Resistance Levels
  
  R1:  1.0922 (50% Retracement level)       
  
  R2: 1.0977 (61.8% Retracement level)    
  
  R3: 1.1021 (May 8th high)
  
  Support Levels
  
  S1: 1.0870 (38.2% Retracement level)                    
  
  S2: 1.0833 (May 11th lows)
  
  S3: 1.0800 (Psychological levels)