EUR/USD (current price: 1.1122)
The pair ended the day close to unchanged despite the busy day regarding economic. Negative data dominated news both in the Eurozone and in the U.S. as German Retail Sales and the Eurozone CPIboth missed expectations, as did the CB Consumer Confidence Index and the Chicago PMI. Personal Spending rose by 1% in the U.S. providing the most bullish data. The Brexit news hurt both currencies, but traders punished the Euro more, driving the pair back into negative territory for the day.
Our assessment: EUR/USD remained above the 200-day MA as it continued to trade in the narrow range of last week. Today we might see the re-test of the important indicator.
