5 Feb 2014
EUR/USD steady after Eurozone retail sales
FXStreet (Córdoba) - The EUR/USD continues to hover around 1.3500, unable to pick up momentum either side of the board ahead of the ECB decision and the US nonfarm payrolls later this week.
The EUR/USD stayed virtually unchanged even after data showed Eurozone Dec retail sales fell much more than expected. Retail sales fell 1.6% in December after rising 0.9% in November and missing expectations of a 0.5% drop. YoY sales declined 1.0% versus a 1.5% gain expected. The EUR/USD is currently trading at the 1.3510 zone, flat on the day, having oscillated within a 30-pip range within 1.3497 and 1.3527 during the European session.
EUR/USD technical levels
In terms of technical levels, immediate resistances are seen at 1.3527 (Feb 5 high), 1.3538 (Feb 4 high), 1.3570 (Jan 31 high) and 1.3598/1.3600 (100-day SMA/psychological level). On the downside, supports could be found at 1.3497/2 (Feb 5 & 4 lows) and 1.3476 (Feb 3 low).
The EUR/USD stayed virtually unchanged even after data showed Eurozone Dec retail sales fell much more than expected. Retail sales fell 1.6% in December after rising 0.9% in November and missing expectations of a 0.5% drop. YoY sales declined 1.0% versus a 1.5% gain expected. The EUR/USD is currently trading at the 1.3510 zone, flat on the day, having oscillated within a 30-pip range within 1.3497 and 1.3527 during the European session.
EUR/USD technical levels
In terms of technical levels, immediate resistances are seen at 1.3527 (Feb 5 high), 1.3538 (Feb 4 high), 1.3570 (Jan 31 high) and 1.3598/1.3600 (100-day SMA/psychological level). On the downside, supports could be found at 1.3497/2 (Feb 5 & 4 lows) and 1.3476 (Feb 3 low).