EUR/USD Current Price: 1.1965- EU February Industrial Production contracted 1.6% YoY, missing expectations.
- US Federal Reserve chief Powell is due to participate in an online event.
- EUR/USD is pressuring monthly highs and ready to test the 1.2000 threshold.
The EUR/USD pair reached 1.1973, its highest since mid-March, holding nearby heading into the US opening. The dollar remains weak amid easing US Treasury yields and the poor performance of equities . Worth noting that global stocks have been lacking directional strength this week, waiting for a fresh catalyst. The shared currency rallied despite European data failed to impress. February Industrial Production contracted 1% MoM and fell by 1.6% YoY. The US has just published the March Import Price Index, which rose 1.2% MoM and the Export Price Index for the same month that was up by 2.1%, both beating the market's expectations. Later today, US Federal Reserve chief Jerome Powell is due to speak at the Economic Club of Washington via satellite.
EUR/USD short-term technical outlookThe EUR/USD pair maintains its bullish stance in the near-term, with room to extend its advance. In the 4-hour chart, the pair is above a bullish 20 SMA, which advances above the longer ones. Technical indicators are neutral at daily highs and near overbought readings, without signs of giving up. Support levels: 1.1920 1.1870 1.1825 Resistance levels: 1.1975 1.2010 1.2045
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