FXStreet (Edinburgh) – After an ephemeral test of the sub-1.1200 area post-US data, EUR/USD has quickly regained the 1.1230/40, where it now looks to stabilize.
EUR/USD practically unchanged on data
The pair is netting no changes after US anticipated retail sales came in above estimates at 1.2% MoM in May while Initial Claims ticked a tad higher to 279K vs. 277K initially expected.
It seems the strong rebound in the US retail sector is not enough to spark a more lasting up move in the greenback, leaving spot practically unchanged in the wake of the releases and focused instead on the never-ending negotiations between Greece and its EU creditors.
EUR/USD levels to watch
At the moment, the pair is now retreating 0.80% at 1.1233 with the next support at 1.1182 (low Jun.11) followed by 1.1087 (low Jun.8) and finally 1.1049 (low Jun.5). On the flip side, a break above 1.1334 (high Jun.11) would open the door to 1.1387 (high Jun.10) and then 1.1400 (psychological level).
(Market News Provided by FXstreet)