EURUSD : Waiting for new upward moves!

Hey there! Let's talk EUR/USD. We're not expecting this currency pair to make any big moves until the US Consumer Price Index (CPI) numbers are released. Everyone's got their eyes peeled to see if the US prices have gone up by 3.4% this March compared to last year, which is way above the Fed's comfy zone of 2.0%. And until those prices cool down a lot more, the Fed's unlikely to cut down the current 5.5% interest rates.

So here's the deal: The US keeping its interest rates higher than Europe’s means the dollar might not drop in value. Higher interest rates attract cash from overseas investors like bees to honey.

After last Friday’s killer jobs report showing 303,000 new folks joined the US workforce in March, expectations for US inflation got a boost. More jobs usually mean more cash being earned and spent, which could spell trouble for EUR/USD. But hang on, the euro's been holding strong for the past five days, which hints that the buyers aren’t out of steam yet.

If the EUR/USD can break through the resistance level of 1.088, it could signal a price hike, possibly reaching the March 21st high of 1.0942. Let's wait and see!

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