Price movements on the EUR/USD currency pair chart are still seen hovering at 5-month highs, but are more flat on Wednesday.
Focus is on the United States (US) inflation data published in the New York session yesterday, but it did not show a significant impact on the US dollar's movement.
Concerns over the tariff war are seen to continue to be the main pressure on the US dollar, which has led to continued weak movement towards the end of the week.
Prices remained hovering around the 1.09000 zone yesterday and failed to reach the 1.09400 high on Tuesday.
Investors are watching the movement that tests the Moving Average 50 (MA50) support line on the 1-hour timeframe on the EUR/USD chart for trading direction at the end of the week.
The US producer inflation data report to be published in the New York session tonight could be the driver for further price movements in addition to issues of focus in the market such as the tariff war.
If there is no change, the price is likely to continue the previous upward pattern to reach new highs.
For the expectation of a successful continuation of the rise from the 1.09000 zone, the target is to test the high at 1.10000.
However, if the price starts to show a decline from the 1.09000 zone, the current support level at 1.08000 will be tested.
Investors will be on the lookout for a bearish trend change signal before the price makes a decline to the 1.07000 and 1.06000 levels.
