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Sep 12, 2014
EUR/USD edges higher after US retail sales
FXStreet (Córdoba) - EUR/USD gained a couple of pips and scored fresh daily highs after data showed US retail sales data came in line with expectations.
US retail sales grew 0.3% in August and 0.6% year over year, matching analysts expectations. EUR/USD edged a couple of pips higher and scored a high of 1.2954 but lacked momentum to break free from its weekly range as investors refrain from taking big positions ahead of risk events next week.
Next week, the Scottish referendum will take place Wednesday, while the Federal Reserve will decide on monetary policy on Thursday, with growing expectations the Fed might take a hawkish turn
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.2936, 0.1% above its opening price with immediate resistances lining up at 1.2962 (Sept 10 high) and 1.2990 (10-day SMA). On the other hand, supports are seen at 1.2883 (Sept 10 low), 1.2859 (Sept 9 low) and 1.2810 (Jul 8 2013 low).
US retail sales grew 0.3% in August and 0.6% year over year, matching analysts expectations. EUR/USD edged a couple of pips higher and scored a high of 1.2954 but lacked momentum to break free from its weekly range as investors refrain from taking big positions ahead of risk events next week.
Next week, the Scottish referendum will take place Wednesday, while the Federal Reserve will decide on monetary policy on Thursday, with growing expectations the Fed might take a hawkish turn
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.2936, 0.1% above its opening price with immediate resistances lining up at 1.2962 (Sept 10 high) and 1.2990 (10-day SMA). On the other hand, supports are seen at 1.2883 (Sept 10 low), 1.2859 (Sept 9 low) and 1.2810 (Jul 8 2013 low).