HomeContributorsTechnical AnalysisEuro Muted After Retail Sales

Euro Muted After Retail Sales

The euro traded flat on Thursday. Economic data from the eurozone saw the release of the monthly retail sales report. The report showed that sales in the eurozone fell 0.3% in June. This was below the forecasts of a 0.4% increase and down from June’s revised print of a 0.1% decline.

EURUSD Edges Closer to 1.1250

Price action in the currency pair has been somewhat flat over the past few days after the initial decline earlier. This has kept the currency pair trading within the range of the 1.1400 and 1.1250 levels. The current declines could potentially push the EURUSD lower to test the 1.1250 level of support. However, in case of a reversal, we could expect to see the 1.1400 resistance level being tested once again.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading