The performance of the US dollar currency on Wednesday's trading yesterday was more positive than the decline in value that occurred the previous day.
Investors are now waiting for an indication of the Federal Reserve's (Fed) monetary policy next through the United States (US) economic growth data report for the first quarter in the New York session later tonight.
Will follow tomorrow (Friday), the next indicator will be on the PCE price index data which measures the personal spending of US consumers which is the inflation component assessed by the Fed.
While waiting for the data to be published, the market saw relatively flat price movements since yesterday.
On the chart of the EUR/USD currency pair, the price that made an increase last Tuesday was seen slightly above the resistance level of 1.07000.
However, the price went back down again yesterday below that level to hover in the horizontal zone before.
However, the price is still above the 1-hour Moving Average 50 (MA50) support line on the EUR/USD chart.
The price movement is expected to continue the bullish trend with the price increase in the Asian session seen slowly passing the 1.07000 level again.
A higher rise will be expected towards the next target at the 1.08000 level.
If the price pulls back down again, it is likely that a bearish indicator will be displayed with the price moving below the MA50 line again.
The price will continue to decline to reach the 1.06000 support zone as in last week's trading.
