EU Feb Retail Sales (MoM): -0.3%; -1.4% (YoY)

The EUR/USD is currently biased for some correction of yesterday’s rally to 1.2949 high and eased lower for the European session. Surprisingly during one straight hour, selling pressure could only reach as low as 1.2901. Now, as investors prepare for the EMU GDP and retail sales, the market is pulling towards the opening price area. As of writing, the EUR/USD trades at 1.2925.