The euro remains under pressure. Data on retail sales of the euro area

The single currency remains under pressure against the US dollar, after the publication of mixed data on retail sales in the euro area.

• According to published data, the volume of retail sales in February rose by 0.1%, against the January decline of -0.3%. In turn, on an annualized basis, the growth rate was 1.8%, which is lower than the forecast at 2.1%.

Technical analysis: The pair EUR/USD is traded near the low of the current week, at 1.2248. In case of further reduction and fixing of the price below the level of 1.2248, one should expect its further decrease to the levels.

Fig. EUR/USD. The current price is $ 1.2267.

Alexander Sivtsov