If we look at the US side, weekly unemployment benefit applications came below expectations with 576 thousand people, while retail sales were positively decoupled with an increase of 9.8% compared to the previous month. Philadelphia Fed Manufacturing Index was in a slight loss of momentum with 50.2, while New York Empire State Manufacturing Index was realized well above expectations with 26.30. On the other hand, it is seen that the tension in the USA caused by the inflation data that exceeds the expectations triggered the outflows from the dollar. We see that the US 10-year bond yields declined to 1.53%. Fed Chairman Powell's signal that bond purchases would be reduced prior to the rate hike took the attention of the markets. In the Beige Book Report, it was stated that the economic activities in the country accelerated moderately in the period from the end of February to the beginning of April, strengthened the positive perception of the economy. It is seen that these developments have accelerated their attacks towards the 1.20 level.

If we look at the Eurozone side, it is seen that concerns about the country's economy have increased as the restrictions on the COVID-19 outbreak continue. It can be said that the shrinkage in the Euro Zone ZEW Index also strengthens this perception. On the other hand, we see that the industrial production of the Euro Area also contracted by 1.1%. As another striking development, ECB President Lagarde stated that they are far from turning inflation into a sustainable target and stated that incentives cannot be stopped until full recovery is achieved.

After all these developments, the pair climbed above the 1.1958 level, and the declines may be limited due to the preservation of the image above this level. Especially in the continuation of the picture above this level, the upward potential in the parity may gradually reach the resistance thresholds of 1.20 and 1.2050. However, in a thaw below 1.1958, 1.19 remains our first support threshold. Below this level, we follow the decreases within the frame of 1.1850 and 1.18 support levels.