• Euro trades lower versus US Dollar as Federal Reserve rate hike bets solidify.
• Strong US banking results, persistent inflation and Fed commentary suggest at least another hike in May. 
• Upside for Euro dependent on April inflation data and ECB Bank Lending Survey. 

The Euro (EUR) trades at 1.0960 against the US Dollar (USD) during the early European session on Wednesday. The pair has pulled back slightly from the recent April 14 highs of 1.1075 as the US Dollar recovered on bets the Federal Reserve (Fed) will continue raising interest rates. 

From a technical perspective the pair is broadly in a medium-term uptrend which is biased to extend.