EUR/USD Heads To $1.1000, US CPI Ready To 'Shake' Prices

<p>&nbsp;Uncertain price movements until yesterday had been expected by analysts and investors also remained cautious from the beginning of the week.</p><p><br /></p><p>The focus is now on the United States (US) inflation data that will be published in the New York session later tonight.</p><p><br /></p><p>The latest inflation rate expectations with increased figures may trigger doubts for the Federal Reserve (Fed) to switch to monetary policy easing.</p><p><br /></p><p>Will the US dollar be strong? Or plummet?</p><p><br /></p><p>The US dollar on Wednesday yesterday traded weak again after showing a recovery the previous day.</p><p><br /></p><p>On the chart of the EUR/USD currency pair, it appears that the price made an increase in the New York session up to the level of 1.09700 at the end of the session.</p><p><br /></p><p>The price also re-crossed the Moving Average 50 (MA50) barrier on the 1-hour time frame on the chart to give an early signal of a bullish trend change.</p><p><br /></p><p><br /></p><p>The slow rise continued in the Asian session this morning (Thursday) seeing the price heading towards the 1.1000 resistance level which has been the focus since last week.</p><p><br /></p><p>If the resistance is finally broken after this, the bullish movement of the price could push the jump to reach around 1.11000.</p><p><br /></p><p>On the other hand, if the current situation sees the price plunge again, the closest support is at the 1.08800 zone as it was hit last Friday.</p><p><br /></p><p>A break lower will lead to a further decline towards the next concentration zone at 1.08000.</p>