As highlighted before, there is only one thing to note for the day. bold.
This is at 1.0850 for EUR/USD, which remains relatively close to the pair’s 200-day moving average at 1.0846. Taken together, they could pose a barrier to further downside price action in the coming session before U.S. retail sales data arrives.
Dollar looks to extend yesterday’s gains and moves higher ahead of European trade; Therefore, the expiry level mentioned above is a level to pay attention to, as well as the key technical level outlined.
Besides this, there is a major upside for USD/JPY at 147.35, but the pair now appears to be breaking through this level and any reaction to reduce the upside momentum is likely to be data-driven. In other words, it will be down to US retail sales data later in the day to confirm/invalidate early moves.
For more information on how to use this data, you can refer to the article here.