Bullish! EUR/USD To Highest Level Since March 2022!

 The Euro currency continued to take advantage of the advantage to strengthen following the US dollar experienced a continuous decline until trading in the New York session yesterday.Also published yesterday was the United States (US) producer inflation data which recorded the lowest figure since August 2020, accompanying the publication of consumer inflation last Wednesday.The downward trend in inflation in the US reinforces expectations that the policy tightening phase by the Federal Reserve (Fed) is almost at an end, and the expectation of interest rate hikes is reduced to just one more for this year.It can be observed on the chart of the EUR/USD currency pair, the price maintained the bullish trend movement this week with the increase continuing yesterday reaching the latest highest level since March 2022.After the price managed to stay above the 1.10000 level before, the increase continued until it broke through the target level of 1.12000 in the New York session yesterday.Slow price movement continued trading in the Asian session this Friday morning above the 1.12000 zone.Staying above the Moving Average 50 (MA50) support level on the 1-hour time frame on the EUR/USD chart, the price could target further higher levels to 1.13000 or 1.14000.However, investors are also alert for the risk of a change in price direction during the trading routine in the last sessions of the week.If the price breaks back below 1.12000, a further decline could occur for the price to retest the MA50 support.The 1.107000 to 1.10000 zone is seen to be among the price targets that were previously the focus zone.