EURUSD

Following the below-expected Retail & Core Retail Sales data for EURUSD in the US, we have followed the reaction of the recent trend movement for the Dollar Index and therefore for EURUSD. Today, we will follow the PPI and University of Michigan inflation expectation results from the US. When we evaluate the EURUSD parity in the short term (55-period exponential moving average), the 1.0755 – 1.0805 region maintains its importance, but the parity may want to continue its negative outlook under the relevant region. With this in mind, a decline towards the supports of 1.0655, 1.0620 and 1.0580 can be observed. In particular, the continuation of the course below the 1.0715 level may strengthen the current pressure. Otherwise, a recovery towards the trend area can be observed. Under this condition, a new pricing reaction towards the psychological 1.1000 level can be observed. Support: 1.0715 – 1.0665 Resistance: 1.0805 – 1.0850