Investing.com - The euro pushed higher against the dollar on Tuesday, to trade near the two-week highs struck in the previous session, but gains were checked ahead of the upcoming euro zone inflation report for April.
EUR/USD was last up 0.11% to 1.3865, not far from the high of 1.3878 struck on Monday.
The pair was likely to find support at 1.3820 and resistance at 1.3895.
The euro continued to be supported by expectations that the preliminary euro zone inflation report, due for release on Wednesday, would show that consumer prices ticked higher this month.
An uptick in the region’s inflation rate would ease pressure on the European Central Bank to implement additional monetary policy measures.
Last month the annual rate of inflation in the euro zone slowed to 0.5%, the lowest since November 2009. The ECB targets an inflation rate of close to but just under 2%.The consensus forecast is for the euro zone inflation rate to rise to 0.8%.
Germany was to release what would be closely watched preliminary data on consumer prices later in the trading day.
The euro was higher against the yen, with EUR/JPY rising 0.19% to 142.20.
Elsewhere, the dollar was fractionally higher against the yen, with USD/JPY edging up to 102.54 from 102.48 on Monday.
Trade volumes remained thin, with markets in Japan closed for a holiday on Tuesday.
The dollar remained firmer after data on Monday showed that U.S. pending home sales rose for the first time in nine months in March, indicating that the housing market is picking up.