The common currency managed to hold up against a stronger greenback on Thursday. While prices initially slipped, the euro quickly reversed the losses. The final inflation report for March from Germany and France showed that consumer prices rose 0.4% and 0.8% respectively, matching the initial flash estimates.
Can the EURUSD Maintain the Upside?
The currency pair initially fell on Thursday but stopped short of retesting the previously tested support area. A quick reversal saw price action breaking past the resistance area of 1.1276. At the time of writing, EURUSD is extending gains higher and we expect the momentum to see price action targeting 1.1330 in the near term.
