Anna 
During the early European session on Wednesday, the EUR/USD pair maintained mild losses around 1.0855. Investors are awaiting the release of the US March Consumer Price Index (CPI) report and the Federal Open Market Committee (FOMC) Minutes later in the day. Additionally, focus will shift to the European Central Bank (ECB) monetary policy decision scheduled for Thursday.
It is widely expected that the ECB will keep rates unchanged at its April meeting, but speculation regarding easing policy in June has increased.
Analyzing the four-hour chart, EUR/USD continues to exhibit a bullish stance, with the pair positioned above the key 100-period Exponential Moving Average (EMA). The Relative Strength Index (RSI) remains in bullish territory around 56.50, indicating a path of least resistance to the upside.
In terms of resistance levels, the first hurdle is anticipated near the upper boundary of the Bollinger Band at 1.0870. Subsequently, the psychological level and a high from March 18 at 1.0900–1.0905 present another significant resistance zone. A break above this level could lead to a rally towards the high of March 21 at 1.0942.
Conversely, the 100-period EMA at 1.0833 serves as an initial support level for EUR/USD. Further downside protection lies at the lower limit of the Bollinger Band at 1.0823. A breach of this level may expose the low of March 28 at 1.0775, followed by the low of April 1 at 1.0730.
As the market awaits crucial events and data releases, including the ECB monetary policy decision and US CPI report, EUR/USD remains within a range, with potential for volatility to increase in the coming sessions. Traders will closely monitor technical levels and fundamental developments for trading opportunities.
