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Forex: EUR/USD retraced to 1.3465/70 after US data

The single currency left the area above 1.3500 and is heading towards 1.3465/70 after US retail sales were above expectations. In fact, sales rose 0.1% on a monthly basis during January and expanded 0.2% stripping the automobile sector.

Next on tap in the US docket will be the Business Inventories during December, expected at +0.3%.

As of writing, the cross is up 0.10% at 1.3468 and a surpass of the psychological level at 1.3500 would open the way to 1.3577 (high Feb.7) and then 1.3598 (high Feb.5).
On the flip side, support levels line up at 1.3364 (low Feb.12) followed by 1.3325 (low Feb.11) and 1.3300 (psychological level).

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