EUR on the upside ahead of Retail Sales

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By :  ,  Financial Analyst

EUR on the upside ahead of Retail Sales

Later today, the European Commission will report the eurozone's October retail sales, expected at +0.7% on month. Also, Research firm Markit will publish final readings of November Services PMI for the eurozone (41.3 expected), Germany (46.2 expected) and France (38.0 expected).

From a technical point of view, on a daily chart, EUR/USD still stands above its rising 50-day moving average (in blue). Readers may therefore consider the potential for further advance above 1.1850. The nearest threshold would be set at previous overlap at 1.2150 and a second one would be set at horizontal resistance at 1.2300.

Source: TradingView, GAIN Capital

Related tags: EUR Forex Forex

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