EUR/USD could rally to 1.070 on weak US retail sales data

Pair’s bullish price RSI divergence followed by breach of the descending trend line and a break above the 50-DMA has opened the doors for a rally to 1.07-1.0710 levels…especially if the US advance retail sales number disappoints expectations.

On the other hand, a failure to hold above 1.0622 would be fresh selling opportunity.