EUR/USD: Bulls to regain ground on a break above 1.2010

The EUR/USD pair advanced to 1.1992 this Thursday, a fresh April high, but it is retreating just modestly. In the view of FXStreet’s Chief Analyst Valeria Bednarik, bulls won’t give up easily.   

US Retail Sales jumped to 9.8% in March, beating the market’s expectations 

“Germany published March inflation figures. The annual Consumer Price Index matched the expected 1.7% YoY.”

“As for US data, March Retail Sales sharply recovered, printing at 9.8%, much better than the 6.3% anticipated. Initial Jobless Claims contracted to 683K in the week ended April 9, also beating expectations, while the Philadelphia Fed Manufacturing Survey came in at 50.2 in April. The country will later publish March Industrial Production and Capacity Utilization.”

“The EUR/USD pair retains its near-term bullish stance, as it consolidates at the upper end of its monthly range.”

“A corrective decline could come on a break below the 1.1940 support, while bulls will retake the lead on a break above 1.2010.”