14 Jul 2015
EUR/USD offered at 1.1043 ahead of US retail sales data
FXStreet (Mumbai) - The EUR/USD pair trades around 1.1025 after being offered at the high of 1.1043 ahead of the data in the US, which is expected to show retail sales growth slowed down in June.
Gains capped around 100-DMA
The upward momentum stalled closer to the 100-DMA currently located at 1.1045. The common currency found support on reports that Greek opposition party has decided to support PM Tsipras in deal vote tomorrow.
The investors now await the data in the US, which is likely to show the retail sales growth slowed to 0.3% in June from 1.2% in May. Core retail sales are seen rising 0.5% in June, compared to 1.0% gain seen in May.
EUR/USD Technical Levels
The immediate resistance is located at 1.1045 (100-DMA), above which the spot could target 1.1083 (38.2% R of Mar-May rally). On the other hand, support is seen at 1.10 and 1.0955 (June 28 low).
Gains capped around 100-DMA
The upward momentum stalled closer to the 100-DMA currently located at 1.1045. The common currency found support on reports that Greek opposition party has decided to support PM Tsipras in deal vote tomorrow.
The investors now await the data in the US, which is likely to show the retail sales growth slowed to 0.3% in June from 1.2% in May. Core retail sales are seen rising 0.5% in June, compared to 1.0% gain seen in May.
EUR/USD Technical Levels
The immediate resistance is located at 1.1045 (100-DMA), above which the spot could target 1.1083 (38.2% R of Mar-May rally). On the other hand, support is seen at 1.10 and 1.0955 (June 28 low).