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EUR/USD Forecast: Limited bullish potential ahead of central banks’ frenzy

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The EUR/USD pair trades uneventfully around the 1.0900 mark, up roughly 20 pips in the day.

EUR/USD Current price: 1.0895 Solid gains in stock markets maintain EUR/USD marginally higher on Monday. The Eurozone confirmed the February Core Harmonized Index of Consumer Prices at 3.1% YoY. EUR/USD struggles around 1.0900, with the risk skewed to the downside in the near term. Financial markets started the week cautiously, as multiple central banks will announce their decisions on monetary policy in the upcoming days, including the United States Federal Reserve .

1% YoY, as previously estimated. The American session will bring the US NAHB Housing Market Index for March. EUR/USD short-term technical outlook Technically, the EUR/USD pair seems poised to extend its advance. The daily chart shows the pair trades above bullish moving averages as the 20 Simple Moving Average gains upward strength above the longer ones. Furthermore, the latter converges with the 38.2% Fibonacci retracement of the 1.1139/1.0694 slide at 1.0865.

 

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