The eurozone’s retail sales for January saw a modest increase. Data showed that retail turnover rose 0.6% on a month over month basis. This reversed part of the 1.1% decline from the month before. The data was broadly in line with estimates.
EUR/USD Maintains Consolidation
The euro continues to trade flat in the medium term. Price action is stuck within the range of the 1.1180 and 1.1100 region. A breakout from this level is imminent. However, the bias remains mixed currently.
Given the current volatility, we could expect to see a possible breakout higher.
