US retail sales data for December was released at 1:30 pm GMT and it turned out to be a positive surprise. While the headline gauge came in-line with estimates (0.3% MoM), core gauges outperformed. Retail sales excluding autos jumped 0.7% MoM (expected 0.5% MoM) while retail sales excluding autos and gas increased 0.5% MoM (expected 0.4% MoM). EURUSD moved lower following the release.
EURUSD started to decline following a solid US retail sales report. The nearest support can be found at 1.1133 - 100-hour moving average (red line) and the lower limit of local 1:1 structure. Source: xStation5
