During the Asian session, the EUR/USD pair retreated from the highs of March 21, renewed yesterday, and tested the level of 1.0855 for a breakdown while investors await renewed statistics on EU consumer inflation.

The EUR/USD pair is showing weak growth, developing the "bullish" momentum formed in the short and medium term and updating local highs from April 10. The instrument is testing 1.0820 for a breakdown, while investors await the publication of today's macroeconomic statistics.

A fall is possible.

On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B formed, and a downward correction develops as the second wave 2 of (А) of B. Now, the wave c of 2 is developing, within which the third wave of the lower level (iii) of c is forming. If the assumption is correct, the EUR/USD pair will fall to the area of 1.0410–1.0212. In this scenario, critical stop loss level is 1.0886.

The quotes of the EUR/USD pair are trading around 1.0727, holding within a long-term downtrend due to the difference in monetary approaches between the European Central Bank (ECB) and the US Federal Reserve.