EUR/USD: strong retail sales US push the Euro to new lows

© Reuters. EUR/USD ramped up its fall following the retail sales US

After having declined following the meeting dovish tone from the ECB yesterday, and then after a very strongly accented its dip in the face of european PMI data disappointing released this morning, the EUR/USD pair still mark new lows this afternoon, with a low point at 1.1272.

This time, it is the rise in the Dollar, which pushes the pair lower, with the greenback benefiting from the positive impact of retail sales for the month of November, above expectations.

They have in effect increased by +0.2% versus +0.1% anticipated. The figures for the previous month were also revised up, from +0.8% to +1.1%. Excluding automobiles and gasoline, sales at details US in the month of November rose by +0.5% against +0.4% expected and have been revised from +0.3% to +0.7% for the previous month.

From a graphical point of view, the profile downtrend of the pair EUR/USD will strengthen further, and the next potential obstacle to the continuation of the decline is at 1.1265 (lows of 28 November), prior to 1.1215 (hollow annual).

The increase, 1.1300 and 1.1350 are the first resistances to take into account, but only a return back above 1.14 would begin to weaken the profile bearish of the Euro-Dollar.

Finally, it will be recalled that the pair will be still likely to be influenced by two other news out of the US this afternoon, with industrial production for the month of November at 15: 15, and the PMI indexes US at 15: 45.

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