The EUR/USD pair trades on a weaker note below the mid-1.0900s during the early European session on Thursday.
EUR/USD loses ground around 1.0940 on the rebound of USD. The pair keeps the bullish vibe above the key EMA; RSI momentum indicator lies above the 50-midline. The immediate resistance level will emerge at 1.0955; the key support level is located at the 1.0910–1.0915 zone. Traders prefer to wait on the sidelines ahead of the key event on the US docket. The US February Retail Sales will be released, which is estimated to show an increase of 0.8% MoM.
The next hurdle is located at a high of March 8 at 1.0981. Further north, the upside target to watch is a psychological level and a high of January 11 at 1.1000, en route to a high of December 22 at 1.1040. On the downside, the key support level for a major pair is seen at the confluence of the 50-period EMA and the lower limit of the Bollinger Band at the 1.0910–1.0915 region. The next contention level to watch is the 100-period EMA and round figure at 1.0900.
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