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EURUSD Awaiting Retail Sales

The euro currency is on the rise against the US dollar above the 1.2100 level after bulls were able to successfully defend critical trendline support, around the 1.2080 level. EURUSD traders are now awaiting US retail sales data, with a strong number needed to boost the greenback. If retail sales come in weaker than predicted the EURUSD pair could test towards the 1.2170 level once again.

The EURUSD pair is only bullish while trading above the 1.2080 level, key resistance is found at the 1.2170 and 1.2240 levels.

EURUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2060 and 1.2030 levels.