A third wave of US dollar selling hits.
The US dollar is under persistent pressure after a mediocre retail sales report. It was the largest increase in a year but the fourth consecutive month where the report missed expectations.
The US dollar bull market isn't about to crack on a touch of weakness from consumers. The Fed is focused on jobs more than inflation or retail sales and there was definitely a skew in the March non-farm payrolls report.
I see the case for selling the euro here or taking a more cautious approach and selling it near 1.0700 with a stop around 1.0725.
EURUSD 2 hour chart
