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EUR/USD through 1.1200 on poor US results

EUR/USD is now accelerating its upside to the 1.1200 neighbourhood in the wake of US releases.

EUR/USD in 3-day tops beyond 1.1200

The pair’s upside has been boosted further today after US Retail Sales have disappointed market expectations during July. In fact, headline sales have come in flat vs. a forecasted 0.4% gain, while sales excluding the Auto sector have contracted 0.3% vs. a 0.2% advance initially estimated.

Further results saw headline Producer Prices contracting 0.4% MoM in July, while Core prices dropped 0.3% during the same period.

EUR/USD levels to watch

The pair is now up 0.62% at 1.1207 and a break above 1.1236 (high Aug.2) would target 1.1263 (50% Fibo of the May-June down move) en route to 1.1296 (2014-2016 resistance line). On the flip side, the immediate support aligns at 1.1085 (200-day sma) ahead of 1.1043 (low Aug.5) and then 1.0950 (low Jul.25).

USD selling might only be a summer trade - MUFG

Derek Halpenny, European Head of GMR at MUFG, notes that the US dollar is back under selling pressure as investors search for yield in quiet summer tr
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GBP/USD surges past 1.30 handle after disappointing US data

Having posted a daily low at 1.2939, the GBP/USD pair recovered sharply and reclaimed 1.3000 psychological mark following the release of disappoint US
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