EUR/USD trading on the high side heading into Asia, testing 1.2500

• EUR/USD still peaking after US inflation beat.
• Dollar selling still the market's favourite sport.

EUR/USD is trading topside heading into Asia markets, trading just below yesterday's high of 1.2510.

The Euro has gained while the USD has suffered lately, with EUR/USD closing higher for four straight days, pushed higher following CPI data for the US on Thursday that widely beat expectations for inflation, sending the Greenback tumbling once more down the charts.

With little data left on the docket heading into Friday, market sentiment will continue to be the dominant factor in the pair's direction to finish out the week.

EUR/USD Technicals

Thursday marked a volatility day, and barriers for today's intraday action ligh at the previous high/low for the pair, at 1.2510 and 1.2448. H4 charts are noticeably bullish with price closing in on the recent swing highs around 1.2520, while long-term traders will be looking for the Euro to close over 1.2537, which will see EUR/USD trading at three-year highs, while long-term support is resting between 1.2062 and 1.1565 should things take a bearish turn.