U.S Retail Sales Up 0.8%, USD Follows!


The U.S Retail Sales rose 0.8%, from 0.5% a month earlier, analysts had expected it to fall 0.3% in the last month. Core Retail Sales rose 1.0%, from 0.4% in the preceding month, passing a forecast of 0.7%…This development supported the US dollar, anyway, let’s take a quick look at the market.

EURUSD: The pair retreated from the 1.1847 levels as suggested this early morning, now eyes will be on the 1.1762 levels where a cut will aim main support at the 1.1731 levels.

GBPUSD: A failure to hold above the 1.3427 levels on a daily closing basis could mean a return to the 1.3300 levels, above 1.3247 will aim the 1.3475 levels where a break will pave the way to the 1.3550/1.3595 levels.

USDJPY: The pair remains in a pullback mode below 113.55 levels, support comes at the 112.65 levels ahead of the 112.21 levels(main), below 112.21 will turn outlook bearish to the 111.63/110.85 levels. Above 113.55 will restore upside momentum and aim the 114.27/114.87 levels.

USDCHF: The pair around critical support 0.9842, a failure to hold below that level could mean a return to the 0.9925 levels, a break will aim the 1.0017/1.0037 levels. below 0.9842 sees a fall risk to 0.9791/0.9755 levels.

AUDUSD: The pair is bullish above 0.7551 levels, eyes the 0.7675 levels, a halt is likely and it may turn lower from here if seen support will come at the 0.7638 levels ahead of 0.7551 levels (main). Above 0.7675 will extend gains to the 0.7729 levels ahead of the 0.7769 levels. On the downside, below 0.7551 sees a lower leg below 0.7500 levels.

USDCAD: The pair consolidates with upside bias above 1.2779 levels, eyes the 1.2933 levels, a break will aim the 1.3012 levels, below 1.2779 sees a fall risk to the 1.2625 levels…