EUR/USD Review, May 18-22, 2020
18 May 2020
The currency pair had no tendency last week. EUR/USD stays below 1,0870 at the moment of writing.
German Prelim GDP data has shown a decline towards -2.2%. Economists expected the same result.
US CPI and Retail Sales data was lower that expected. There is nothing surprising here as there are still some major restrictions in the United States.
We expect the currency pair to retest 1,0870 resistance area. In case if EUR/USD breaks it out, the currency pair will target 1,1068.
