FxWirePro- EURUSD Trade idea

EUR/USD pared some of its gains after mixed US economic data.  It hit an intraday high of 1.12253 and currently trading around 1.11857

US retail sales rose 0.1% from month to month in April 2025, better than the predicted 0.0% unchanged. That small increase followed a strong 1.4% increase in March, driven by consumers purchasing tariff-sensitive items ahead of expected price hikes. The April rise shows moderation in consumer spending growth but also shows resilience to tariffs and a cautiously consumer-friendly environment. The new claims level was 229,000, the same as last week and in line with expectations. This steady level still indicates a strong labor market.Technical

Analysis of EUR/USD

The pair is holding below the short and  long term moving average in the hourly chart. Near-term resistance is seen at 1.1225; a break above this may push the pair to targets of  1.1278/1.1320/1.13790.  Major bullish momentum is likely only if prices are able to break above 1.160 targets 1.1660. On the downside, support is seen at 1.1150 any violation below will drag the pair to 1.1090/1.1050/1.100.

Market Indicators and Trading Strategy

Commodity Channel Index (CCI)-  Bearish

Average Directional Movement Index (ADX) - Neutral

 It is good to sell on rallies around 1.1200 with a stop-loss at 1.1250 for a target price of 1.1070.