EUR/USD to increase bullish potential once beyond 1.1920

EUR/USD advances within range but its bullish potential is limited after soft US inflation data, Valeria Bednarik, Chief Analyst at FXStreet, reports.

Key quotes

“The US has just published February inflation figures. The annual Consumer Price Index came in at 1.7% as expected in February, better than the previous 1.4%. However, core annual inflation resulted at 1.3%, below the previous and the expected 1.4%.”

“The pair would have better chances on the upside once above 1.1920, the immediate resistance level.”