13 May 2015
EUR/USD around 1.1240, US data eyed
FXStreet (Edinburgh) - The shared currency remains within a narrow range now, driving EUR/USD to the area of 1.1230/25.
EUR/USD focus on US docket
The pair is looking to consolidate around the mid-1.1200s in light of the key US Retail Sales during April. Prior surveys see headline sales growing 0.2% on a monthly basis while sales excluding the Automobile sector are seen expanding 0.5%. Further data to be published, albeit less relevant, include Import/Export Prices and the EIA report on crude oil inventories.
Back to the euro area, results from German and EMU GDP have come below estimates at 0.3% and 0.4% during the first quarter, weighing on spot during the European morning.
EUR/USD levels to watch
At the moment the pair is advancing 0.13% at 1.1228 with the next up barrier at 1.1290 (high May 8) followed by 1.1392 (high May 7) and then 1.1400 (psychological level). On the other hand, a break below 1.1131 (low May 11) would aim for 1.1067 (low May 5) and finally 1.1059 (38.2% of 1.0521-1.1392).
EUR/USD focus on US docket
The pair is looking to consolidate around the mid-1.1200s in light of the key US Retail Sales during April. Prior surveys see headline sales growing 0.2% on a monthly basis while sales excluding the Automobile sector are seen expanding 0.5%. Further data to be published, albeit less relevant, include Import/Export Prices and the EIA report on crude oil inventories.
Back to the euro area, results from German and EMU GDP have come below estimates at 0.3% and 0.4% during the first quarter, weighing on spot during the European morning.
EUR/USD levels to watch
At the moment the pair is advancing 0.13% at 1.1228 with the next up barrier at 1.1290 (high May 8) followed by 1.1392 (high May 7) and then 1.1400 (psychological level). On the other hand, a break below 1.1131 (low May 11) would aim for 1.1067 (low May 5) and finally 1.1059 (38.2% of 1.0521-1.1392).