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13 Aug 2013
US retail sales next: Impact on the USD
FXstreet.com (Córdoba) - Next during the American session, the US Census Bureau will publish retail sales figures for July, with expectations calling for a 0.3% increase and 0.4% rise excluding autos.
“The number needs to show an increase of 1.3% of more, peak of the last couple of years, to be understood as positive enough and trigger dollar gains against most rivals”, says Valeria Bednarik, chief analyst at FXstreet.com. “Somewhere in between that number and current 0.4% should hardly be able to reverse the negative momentum of the greenback, while a reading below 0.4% will only accelerate current negative bias”.
Ahead of the data, EUR/USD trades at the 1.3290 zone, a few pips its opening price. Immediate support levels are seen at 1.3275 (Aug 12 low) and 1.3230 (Aug 5 low) ahead of the 1.3200 (psychological level), while resistances could be found at 1.3315 (daily high), 1.3335 (100-hour SMA) and 1.3370 (Aug 8 high).
“The number needs to show an increase of 1.3% of more, peak of the last couple of years, to be understood as positive enough and trigger dollar gains against most rivals”, says Valeria Bednarik, chief analyst at FXstreet.com. “Somewhere in between that number and current 0.4% should hardly be able to reverse the negative momentum of the greenback, while a reading below 0.4% will only accelerate current negative bias”.
Ahead of the data, EUR/USD trades at the 1.3290 zone, a few pips its opening price. Immediate support levels are seen at 1.3275 (Aug 12 low) and 1.3230 (Aug 5 low) ahead of the 1.3200 (psychological level), while resistances could be found at 1.3315 (daily high), 1.3335 (100-hour SMA) and 1.3370 (Aug 8 high).