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14 Jan 2015
EUR/USD climbs to 1.1846 on weak retail sales – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares that weak US Retail Sales at -0.9% fuelled a sell-off in the Dollar, leading EUR/USD to climb towards 1.1846 levels.
Key Quotes
“The American dollar is sharply down across the board after US Retail Sales data disappointed big in December, whilst November readings were also revised to the downside. Retail Sales posted a 0.9% drop, the most in almost a year, showing consumption can’t pick up in the country. This will result in term in further depressed inflation, and this last with keep FED with it hands tied when it comes to a rate hike.”
“The EUR/USD surged up to 1.1846, and the hourly chart presents a strong bearish bias, as indicators head higher above their midlines, whilst price break above 20 and 100 SMAs.”
“The immediate resistance stands in the 1.1860 price zone, where the pair presents some former intraday highs and its 200 SMA in the same time frame, with a break above it favoring an approach to the 1.1900 figure.”
Key Quotes
“The American dollar is sharply down across the board after US Retail Sales data disappointed big in December, whilst November readings were also revised to the downside. Retail Sales posted a 0.9% drop, the most in almost a year, showing consumption can’t pick up in the country. This will result in term in further depressed inflation, and this last with keep FED with it hands tied when it comes to a rate hike.”
“The EUR/USD surged up to 1.1846, and the hourly chart presents a strong bearish bias, as indicators head higher above their midlines, whilst price break above 20 and 100 SMAs.”
“The immediate resistance stands in the 1.1860 price zone, where the pair presents some former intraday highs and its 200 SMA in the same time frame, with a break above it favoring an approach to the 1.1900 figure.”