Better revisions should be good for GDP.
The EURUSD has dipped modestly after the US retail sales came in about as expected but revisions were stronger. GDP estimates should move higher.
The EURUSD has risen in trading today, continuing the move from Friday. the move higher chopped above the 100 and 200 hour MAs at 1.1689 and 1.1701 respectively. The 50% of the move down last week, also comes in at 1.1701, making that level important on the downside. A trend line also cuts across there currently (and moving higher)
The low after the report reached 1.17072 (currently trading around 1.1714.
The high today reached to 1.17248. That did take the price above the 61.8% of the move down and above a broken trend line from last week. The trend line comes in at 1.1716 currently.
Honestly, the price action and technicals have been choppy. However, if the EURUSD has topped (off better data), the 61.8% at 1.17222 should be eyed. On the downside, the 1.1701 (call it 1.1700) is a key level to get below with the technical levels there. A move below the 100 hour MA at 1.16895 will confirm more bearish (perhaps....things are choppy today).