German Retail Sales Falls – 2.3% In Jul , Sell EURUSD On Rebound !

forex 653 min
forex 653 min

German Retail Sales measures the change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations. It is the primary indicator of consumer spending, which accounts for the majority of economic activity.

The German retail sales fell -2.3 %, from 0.4% in the previous month, the indicator was expected to fall 0.3% in the last month.

(Year-Over-Year) German retail sales rose 5.1%, from -1.0% in the previous month, the indicator was expected to rise by 4.0% in the last month.

Market Impact: This development could bring recovery to test the nearest resistance levels, which come at the 1.0965/1.0985 levels where rejection is strongly suggested, however, further upside, resistance comes at the 1.1035 levels ahead of the 1.1077 levels.

On the downside, support comes at the 1.0935 levels where a clear break will look for the 1.0865 levels ahead of the 1.0800 levels.

German Retail Sales Falls In Jul