EUR/USD weaker post-EMU data

By FXStreet FXStreet (Edinburgh) – The European currency has left the area of session highs near 1.0900 the figure vs. the dollar, now sending EUR/USD back to the mid-1.0800s.

EUR/USD weaker on data

The pair has retreated from daily highs after the lackluster results from EMU’s Retail Sales, contracting 0.1% from August to September vs. forecasts for a 0.2% advance; on a yearly basis, sales have expanded 2.9% vs. 3.0% estimated.

Ahead in the session, the US docket will take centre stage, as Initial Claims are due followed by speeches by Fed’s Fischer and Lockhart.

EUR/USD levels to watch

As of writing the pair is losing 0.02% at 1.0857 with the next support at 1.0808 (low Jul.20) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16). On the other hand, a break above 1.0970 (76.4% Fibo of 1.0808-1.1713) would open the door to 1.1059 (downtrend from 1.1496) and then 1.1101 (200-day sma).
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Source:: FX Street