FXStreet (Edinburgh) - The European currency has abandoned the area of session highs vs. the dollar, now relegating EUR/USD to the 1.0940. EUR/USD capped by 1.0970 ahead of Retail Sales The earlier bull run in the pair lost some vigour in the 1.0970 area, prompting the current leg lower to the vicinity of 1.0940 ahead of key US data releases scheduled for later in the session. In fact, prior estimates see headline Retail Sales to have advanced at a monthly pace of 0.3%, while the flash Reuters/Michigan index is seen easing a tad to 91.0 for the current month. EUR/USD levels to consider At the moment the pair is down 0.02% at 1.0944 and a breach of 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13). On the other hand, the next hurdle lines up at 1.0973 (55-day sma) followed by 1.1063 (high Dec.9) and then 1.1124 (61.8% Fibo of 1.1496-1.0524). ------- What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 - The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18th and get the recording too. ------- For more information, read our latest forex news.