- The pair remained apathetic above 1.1700 on US data releases.
- USD is staging a rebound from lows and is now testing 94.50/55.
- US headline Retail Sales expanded in line with estimates 0.5% MoM.
EUR/USD keeps the positive stance intact at the beginning of the week, although it has now receded from tops beyond 1.1720 in the wake of US data releases.
EUR/USD maintains 1.1700 on data
The pair trades in the area of 3-day peaks after US headline Retail Sales expanded at a monthly 0.4% during June and Core Sales rose 0.5% inter-month, both prints coming in in line with initial estimates.
In addition, the NY Empire State manufacturing index came in above expectations at 22.60 for the current month, a tad lower than June’s 25.00 reading.
Looking ahead, spot is poised to remain under scrutiny in light of headlines from the Trump-Putin meeting and the upcoming testimonies by Fed’s J.Powell on Tuesday and Wednesday.
EUR/USD levels to watch
At the moment, the pair is gaining 0.21% at 1.1714 and a break above 1.1726 (high Jul.16) would target 1.1735 (55-day sma) en route to 1.1792 (high Jul.9). On the other hand, the immediate support aligns at 1.1657 (21-day sma) seconded by 1.1615 (low Jul.13) and finally 1.1527 (low Jun.29).
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