Technical Analysis: EURUSD aims to revisit 100-bar SMA ahead of US Retail Sales
With its failures to carry the previous day's pullback moves from 100-bar SMA, the EURUSD pair becomes vulnerable to revisit the key SMA ahead of the US Retail Sales data. While the American macro is expected to keep the pair's strong inside a 13-day-old ascending trend channel, any surprises may end-up breaking the 1.1760 and 1.1715 immediate supports. It should, however, be noted that the pair's declines below 1.1715 will need validation from July 27 low near 1.1680 before targeting 61.8% Fibonacci retracement near 1.1580.
During the pair's upside, 1.1865 and the recent high near 1.1915 can entertain the bulls before diverting them to the said channel's resistance, around 1.1930 now. In a case where the quote remains strong past-1.1930, May 2018 top surrounding 1.1995 can question the bulls ahead of 1.2000 threshold.
Other than the US Retail Sales and aforementioned technicals, the pair traders should also know that the Sino-American talks, scheduled for Saturday, can offer the key information to determine the pair's short-term moves. Furthermore, the US-EU airbus case and the American stimulus deadlock are some extra points that need to be taken care of while trading EUR/USD.