German retail sales -6.4% yy in December vs -1.8% f/c and prior -5.9%

Dec MM sales -5.3% vs +0.2% f/c

Traders are broadly long EUR/USD ahead Wednesday Fed and Thur ECB meetings

Most of those long are sitting on profitable positions

Given event risk/data, those long may be inclined to book profits

EUR/USD rallies held below the decisive level nL1N34F0EY

Target for minor correction Jan rally is 1.0706