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Jun 02 - 06:55 AM

EUR/USD - Retail Sales Miss Sparks EUR/USD Profit Taking

By Jeremy Boulton  —  Jun 02 - 05:37 AM
  • German retail sales -5.5% mm in April vs -2% f/c, 4.4% yy vs 10.1% f/c

  • EUR/USD slides 1.2218-1.2169 EBS following data, session peak 1.2226

  • Mid-point of 20-day Bollinger bands is 1.2173 neutral ground

  • 38.2% Apr-May rise is 1.2159, the objective for minimum tech correction

  • Imminent release of key U.S. data add to chance of long liquidation

  • NFPs Friday, ADP and service ISM tomorrow, solid results expected



EURUSD daily chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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