• EUR/USD’s upside momentum falters near 1.0850.
• The greenback trims part of the recent weakness amidst mixed yields.
• Consumer Confidence in Germany improved a tad in April.

The weekly upside bias in EUR/USD appears to have met a tough barrier around the 1.0850 region for the time being.

EUR/USD looks offered as dollar rebounds

EUR/USD loses some momentum following an auspicious first half of the week and comes under some selling pressure on the back of the bounce in the greenback and the broad-based offered stance in the risk complex.

Indeed, bulls appear to struggle to overcome the mid-1.0800s, while the better tone in the dollar remains underpinned by the mixed performance in US yields and safe haven demand stemming from banking concerns.

Meanwhile, ECB Board member Kazimir suggested that the core inflation could take a key role when it comes to interest rate decisions at the time when he left the door open to further rate hikes, albeit at a slower pace.

In the domestic calendar, Consumer Confidence tracked by GfK in Germany improved marginally to -29.5 for the month of April (from -30.6), while the Consumer Confidence in France receded to 81 in March (from 82).

Across the pond, MBA Mortgage Applications and Pending Home Sales are due later in the NA session.