Forex: EUR/USD dips to weekly lows on US sales

The single currency dropped to weekly lows in the proximities of 1.2970 after US retail sales posted a monthly expansion of 1.1% in February, surpassing the median at +0.5% and January’s 0.1% advance. Stripping the automobile sector, sales also exceeding expectations, growing 1.0% vs. +0.5%.

At the moment, the cross is losing 0.39% at 1.2974 and a drop below 1.2980 (low Mar.11) would accelerate the decline to 1.2956 (low Mar.8) and then 1.2929 (low Dec.11).
On the upside, resistance levels align at 1.3075 (high Mar.12) ahead of 1.3128 (MA100d) and then 1.3135 (high Mar.8).