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Forex: EUR/USD keeps 1.2800 after German sales

FXstreet.com (Barcelona) - The shared currency climbed to sub 1.2820 levels in the wake of the German retail sales, showing an annual contraction of 2.2% and 0.4% advance on a monthly basis, against forecasts of 0.4% and -1.0%, respectively.

Next on tap will be the unemployment rate in the first EZ economy, expected to remain unchanged at 6.9% during March.

At the moment, the pair is up 0.21% at 1.2805 facing the next hurdle at 1.2922 (MA10d) ahead of 1.3050 (high Mar.25) and finally 1.3107 (high Mar.15).
On the downside, a break below 1.2730 (low Nov.19) would aim for 1.2685 (weekly cloud base) and then 1.2680 (61.8% of 1.2042-1.3711).

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Germany: Annual Retail Sales drop 2.2% in February

Statistisches Bundesamt Deutschland informed on Thursday that year-over-year German Retail Sales dropped 2.2% in February, compared with the 2.5% increase in January and well below forecasts of +0.4%.
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