EUR/USD dips below 1.1300 post-US data

By FXStreet FXStreet (Edinburgh) – EUR/USD its accelerating its decline following the US data releases on Tuesday, currently hovering over the 1.1300/1.1290 band….

EUR/USD weaker on poor US data

Spot is now surrendering ground despite US Retail Sales disappointed expectations during last month, expanding 0.2% MoM and 0.1% excluding the Auto sector, vs. forecasts at 0.3% and 0.2%, respectively.

Further data saw the Empire State index at -14.67 for the current month, a tad better than August’s -14.92 although largely missing expectations at -0.75. Next of relevance will be Industrial Production (-0.2% exp.) and Capacity Utilization (77.8% exp.)

EUR/USD key levels

The pair is retreating 18% at 1.1295 facing the next support at 1.1283 (low Sep.14) ahead of 1.1253 (low Sep.11) and then 1.1147 (low Sep.9). On the flip side, a breakout of 1.1374 (high Sep.14) would open the door to 1.1498 (high Aug.23) and finally 1.1523 (high Aug.27).
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Source:: FX Street