EUR/USD Price Analysis: Bullish outlook remains intact above 1.0900

• EUR/USD is trading higher near 1.0937 ahead of German CPI inflation data for February.
• The pair's positive outlook remains above the key EMA; while the RSI indicator remains above the midline of 50.
• The first bullish barrier is observed at 1.0965; the key support level will emerge in the 1.0895-1.0955 zone.

The EUR/USD pair gains momentum below the 1.0950 area during the early hours of the European session on Tuesday. Investors are awaiting German Consumer Price Index (CPI) data for February, which is expected to remain stable at 0.4% MoM and 2.5% YoY in February. Furthermore, the Harmonized Consumer Price Index (HICP) is expected to remain unchanged at 0.6% month-on-month and 2.7% year-on-year. At the time of writing, the EUR/USD pair is trading at 1.0937, up 0.11% on the day.

On the 4-hour chart, EUR/USD maintains the bullish trend as the pair is above the 50 and 100 EMAs with an upward slope. Furthermore, the Relative Strength Index (RSI), which is in bullish territory above the midline of 50, supports the buyers for the time being.

On the positive side, the Bollinger Bands upper boundary at 1.0965 acts as an immediate resistance level for EUR/USD. If the bulls break this level, a rally to the March 8 high at 1.0981 will occur. The key bullish barrier lies at the 1.1000 level, which represents a psychological level and a January 11 high. The next hurdle lies at the December 22 high at 1.1040.

On the opposite side, the critical support level for the pair will emerge in the 1.0895-1.0905 region, portraying the confluence of the 50-period EMA and the lower boundary of the Bollinger Bands. Further down, the next support level to watch is the 100 EMA at 1.0865, followed by the February 22 round low at 1.0800.

EUR/USD 4-hour chart