The euro stalled after the bloc’s retail sales fell short of expectations in January. On the daily chart, the pair is making another attempt above the psychological level of 0.9000 where a near 300-pip upper wick showed a rejection last September. A break above last month’s high of 0.8895 combined with a bullish MA cross reinforced the upward bias. Though a correction cannot be ruled out as a bearish RSI divergence shows a deceleration in the momentum. 0.8880 is the first demand zone should this happen.
