EUR/USD on the defensive near 1.13 post-US data

• The index keeps the negative tone around the 1.1300 handle.
• The greenback stays bid and approaches 97.30 on data.
• US Retail Sales expanded 0.8% MoM in October.

The selling mood persists around the European currency so far on Thursday and is now prompting EUR/USD to stay close to the 1.1300 neighbourhood.

EUR/USD offered on data, sentiment

Spot remains on the defensive so far on Thursday amidst increasing volatility around the Sterling and disappointing news stemming from the Brexit negotiations, where several members of PM May’s cabinet resigned today.

Also fuelling the downside, the buck remains bid after US headline Retail Sales expanded more than estimated 0.8% MoM in October and Core sales gained 0.7%, also surpassing consensus.

Further US data saw Initial Claims rising 216K from the week earlier, the NY Empire State index coming in at 23.3 (vs. 19.3 forecasted) and the Philly Fed index at 12.9, missing prior surveys.

EUR/USD levels to watch

At the moment, the pair is down 0.07% at 1.1302 and a break below 1.1214 (2018 low Nov.12) would target 1.1188 (61.8% Fibo retracement of the 2017-2018 up move) en route to 1.1118 (low Jun.20 2017). On the flip side, the next hurdle emerges at 1.1341 (high Nov.15) seconded by 1.1351 (10-day SMA) and then 1.1382 (21-day SMA).