EUR/USD: The euro consolidated near a 2-week low since IMF Managing Director Christine Lagarde, perceived as a policy dove, was nominated as the next European Central Bank president. The European currency traded flat at 1.1283, having touched a low of 1.1268 on Wednesday, its lowest since June 20.
Investors’ attention will remain on a series of data from the Eurozone retail sales, as U.S. markets remain closed on account of Independence Day. Immediate resistance is located at 1.1327 (38.2% retracement of 1.1412 and 1.1275), a break above targets 1.1360 (61.8% retracement). On the downside, support is seen at 1.1251 (June 7 Low), a break below could drag it below 1.1203 (June 17 Low).
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