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EUR/USD trades above the 1.1900 level as the dollar is back under selling pressure. The pair is technically bullish but lacks enough momentum in the near-term, Valeria Bednarik, Chief Analyst at FXStreet, reports

EU Retail Sales surprised to the upside, up by 3% MoM in February

“The US calendar includes an auction of 10-year bonds today and a speech from US Federal Reserve Eric Rosengren.”

“The EU published February Retail Sales, which were up by 3% MoM, beating the market’s expectations. The yearly figure printed at -2.9%, better than the -5.2% expected.”

“The EUR/USD pair is near its recent high at 1.1927, the immediate resistance. The risk is skewed to the upside, although the bullish potential seems limited in the near-term.”

“The bullish path will be clearer on a break above 1.1930.”