EUR/USD analysis for April 16 2021 - Buyers in control and potential for the upside breakout and test of 1.2100

Eurozone March final CPI +1.3% vs +1.3% y/y prelim

Core CPI +0.9% vs +0.9% y/y prelimThe preliminary report can be found here. No change to initial estimates as the headline reaffirms a jump, largely due to base effect adjustments. The core reading is seen weaker than February so that does little to convince of sustained upwards price pressures for nowFurther Development

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Analyzing the current trading chart of EUR , I found that the are in control and we got high odds for breakout of the important pivot at 1.1990.

My advice is to wtach for buying opportunities on the pullbacks with the upside targets at 1.2035 and 1.2100.

Additionally, EUR is on the extended run to the upside... Key Levels:Resistance: 1.1990Support levels: 1.2035 and 1.2100

The material has been provided by InstaForex Company - www.instaforex.com

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