The Euro returned to dominate while taking advantage of the sadness of declining demand from the USD deck as the Omicron virus worries subsided.
However, there is also a high probability that there may be a small amount of profit taking activity that has hampered the USD to continue to strengthen.
However, investors are still seen to have confidence in the Federal Reserve (Fed) to implement policy tightening measures earlier to curb high inflation.
It seems that the price on the chart of the EUR/USD pair has displayed a surprise with a daily jump of around 100 pips which has already passed the RBS zone (resistance become support) 1.13000.
The price movement can also be observed after the price began to overcome the trendline resistance at the beginning of the Asian session on Wednesday before the price rebounded again and continued to rise.
The factor will be taken into account by investors to realize it as an early indication of a bullish trend that has also moved above the resistance level of the Moving Average 50 (MA50).
This proves that investors will probably make an expectation to see the price rebounce again to form an HL (higher low) before the target piles up to the SBR 1.14000 zone.
The next surge will see the price move to reach the SBR 1.15000 zone to maintain a more pronounced bullish trend ahead of the release of US inflation data on Friday.
However, if the price on the EUR/USD chart returns to decline, of course the RBS 1.13000 zone and the resistance trendline will be the main focus to be hit first.
While the 1.12000 support zone is also likely to be the next direction to be tested if the price movement continues to be able to record lower price declines.
