EUR/USD: The positive surprise in retail sales, the US is pushing the Euro to new lows


© Reuters. The fall was accentuated on EUR/USD after the strong retail sales US

Investing.com – EUR/USD marks new lows this afternoon, 1.1237, after having already fallen sharply this morning after the publication of the european PMI indexes disappointing.

The Euro-Dollar has been affected this afternoon by a rise in the greenback, in connection with the strong retail sales US for the month of march published at 14: 30.

These have shown an increase of +1.6%, after -0.2% in the previous month, while the consensus expected an increase limited to +0.9%.

The index of the Philadelphia Fed released at the same time, and proved to be disappointing to 8.5 points against 10.4 anticipated, does not appear to have impacted trade.

At this stage, we can consider a graphical point of view that the EUR/USD confirms a bearish reversal.

In this framework, the next logical target would be the psychological threshold of 1.12, before the lowest annual 2019 at 1.1175. For the context of the bearish reversal to be cancelled, EUR/USD will have to climb back above 1.13.

Finally, we must not forget that the PMI US preliminary for the month of April will still need to be monitored in the economic calendar of the day, at 14: 30.

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