EUR/USD: The risk is skewed to the upside

EU March Industrial Production came worse than expected while EUR/USD is mildly bullish in the short-term, according to FXStreet’s Chief Analyst Valeria Bednarik.

Key quotes

“The EU has published March Industrial Production data, which fell by 11.3% in the month and by 12.9% when compared to a year earlier.” 

“The US has just released the April Producer Price Index, which fell by 0.3% MoM and by 1.3% when compared to a year earlier, missing the market’s expectations.”

“The EUR/USD pair has better chances of extending its advance on acceleration through 1.0890, the immediate resistance level.”