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EURUSD pared most of its gains after dismal US retail sales. It hits an intraday low of 1.16715 and is currently trading around 1.16756.
In April 2026, the US retail sector displayed unexpected resilience, with headline sales climbing 0.7% and core sales surging 0.9%, thereby registering a third straight month of growth that greatly surpassed economic projections. The data indicates that strong job growth and slowing goods inflation are successfully protecting consumers from high interest rates, as shown by a 1.5% increase in internet shopping and strong discretionary spending in health and sports items. As the economy seems to be maintaining a steady expansion without re-igniting significant inflationary pressures, this "Goldilocks" performance has market optimism and strengthened expectations for a Federal Reserve pause.
|
Technicals |
CMP -1.16756 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
1.17184 |
CMP< value |
Bearish |
|
200- EMA |
1.17320 |
CMP<value |
Bearish |
|
365- EMA |
1.17268 |
CMP<value |
Bearish |
Major support- 1.14. Near-term resistance- 1.1725/1.1765/1.1800
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bearish |
-221 |
|
ADX |
Bearish |
Strength increased from 25.36 to 31.84 |
It is good to sell on rallies around 1.1700 with SL around 1.1765 for a TP of 1.1525.
