14 Apr 2014
EUR/USD challenges 1.3800 on US data
FXStreet (Edinburgh) - The single currency accelerated its intraday decline, dragging the EUR/USD to the 1.3810/00 area post-US Retail Sales.
EUR/USD weaker on better sales
The pair is intensifying the sell-off after US Retail Sales expanded 1.1% inter-month during March, surpassing market expectations. In the same direction, sales excluding the automobile sector rose 0.7% vs. forecasts for a 0.4% gain. There are no more relevant releases in the US economy, with ECB’s Noyer’s speech grabbing all the attention later on in the European afternoon.
EUR/USD levels to watch
As of writing, the pair is losing 0.54% at 1.3809 with the next support at 1.3807 (21-d MA) followed by 1.3799 (10-d MA) and finally 1.3780 (low Apr.9). On the upside, a breakout of 1.3863 (high Apr.14) would open the door to 1.3906 (high Apr.11) and then 1.3935 (high Mar.19).
EUR/USD weaker on better sales
The pair is intensifying the sell-off after US Retail Sales expanded 1.1% inter-month during March, surpassing market expectations. In the same direction, sales excluding the automobile sector rose 0.7% vs. forecasts for a 0.4% gain. There are no more relevant releases in the US economy, with ECB’s Noyer’s speech grabbing all the attention later on in the European afternoon.
EUR/USD levels to watch
As of writing, the pair is losing 0.54% at 1.3809 with the next support at 1.3807 (21-d MA) followed by 1.3799 (10-d MA) and finally 1.3780 (low Apr.9). On the upside, a breakout of 1.3863 (high Apr.14) would open the door to 1.3906 (high Apr.11) and then 1.3935 (high Mar.19).