Euro Rallies on Strong Economic Data, Rising Above 1.0600 Against US Dollar
- US Retail Sales figures beat expectations, boosting risk appetite and sending the USD lower
- EUR/USD climbed from 1.0532 to near 1.0600 as the Euro strengthened
- ZEW Economic Sentiment Survey for the EU also exceeded forecasts
- EUR/USD broke above 200-hour SMA but faces resistance from 1.0600-1.0620 zone
- Overall EUR/USD remains in a bearish trend below the 50-day SMA around 1.0700
