EUR/USD Current price: 1.0927 United States Retail Sales rose less than anticipated in February, wholesale prices up. European Central Bank member Philip Lane hinted at a June decision on rate cuts. EUR/USD under mild pressure near the 1.0917 Fibonacci support level. Wall Street closed mixed, leading to limited action in Asian stock markets. European indexes developed in a better fashion, maintaining the mood up and EUR/USD underpinned ahead of United States macroeconomic data.
Finally, Retail Sales were up 0.6% in the same month, missing the 0.8% anticipated by market players, although better than the previous -1.1%. EUR/USD short-term technical outlook From a technical point of view, the EUR/USD pair is at risk of falling further, particularly if it pierces the immediate Fibonacci support level at 1.0917. The 50% retracement of the 1.1139/1.0694 slide attracted buyers since March 8, while the 61.8% retracement provides resistance at 1.0970.
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