EUR/USD: Heading towards 1.0900

With a neutral-to-bullish technical stance in the short-term, the EUR/USD pair is heading towards 1.0900 after worse than anticipated US inflation figures, FXStreet’s Chief Analyst Valeria Bednarik briefs.

Key quotes

“US inflation data were worse than expected, as the country’s annual inflation was up by just 0.3% in April, while the core reading came in at -0.4%, also missing the market’s forecast. There was no reaction to the news.”

“Technical indicators are crossing their midlines into positive territory, supporting additional gains without confirming them.”

“The EUR/USD pair could catch additional momentum on a break above 1.0875, the immediate resistance and this week’s high.”