EUR/USD through 1.1200 on poor US results

EUR/USD is now accelerating its upside to the 1.1200 neighbourhood in the wake of US releases.

EUR/USD in 3-day tops beyond 1.1200

The pair’s upside has been boosted further today after US Retail Sales have disappointed market expectations during July. In fact, headline sales have come in flat vs. a forecasted 0.4% gain, while sales excluding the Auto sector have contracted 0.3% vs. a 0.2% advance initially estimated.

Further results saw headline Producer Prices contracting 0.4% MoM in July, while Core prices dropped 0.3% during the same period.

EUR/USD levels to watch

The pair is now up 0.62% at 1.1207 and a break above 1.1236 (high Aug.2) would target 1.1263 (50% Fibo of the May-June down move) en route to 1.1296 (2014-2016 resistance line). On the flip side, the immediate support aligns at 1.1085 (200-day sma) ahead of 1.1043 (low Aug.5) and then 1.0950 (low Jul.25).