The EURUSD currency pair initially declined after the release of higher-than-expected US inflation data, which was part of the GDP report. This drop brought the price below the 38.2% retracement level of 1.0709 and towards its rising 100-hour moving average at 1.06786. However, support buyers stepped in at this moving average and pushed the price back upwards. To maintain a bullish outlook, the EURUSD needs to remain above the 38.2% retracement level and potentially target a swing area up to 1.07314. However, the price encountered resistance today near the 50% midpoint of the April trading range at 1.07425.