EUR/USD Approaches 1.1600 as RSI Turns Bullish on Soft US Inflation

EUR/USD advanced on Wednesday, gaining 0.41% to trade at 1.1466. The move was driven by US inflation data that came in softer than expected, putting downward pressure on the Greenback. Market participants now expect a less hawkish stance from the Federal Reserve.

The pair is approaching the 1.1600 level, with the Relative Strength Index (RSI) shifting to a bullish posture. Technical analysts see the break above recent resistance as a potential signal for further upside, though the broader trend remains dependent on upcoming economic data and Fed commentary.