The euro against the dollar still moves cautiously around the 1.0820 levels, and the truth is that the picture is not entirely clear at the moment. The dollar is supported by solid US data and high interest rates, while the euro suffers from weakness in the European industrial sector, especially in Germany and France.

From a technical perspective, the situation is very sensitive. If the euro breaks below the support level at 1.0790, we may see further decline toward 1.0720. But if it manages to break above 1.0880, it could reach 1.0950. The relative strength index shows a neutral state, meaning the market is waiting for a strong catalyst.

The main issue is that the yield spread between US and German bonds is pushing money toward the dollar. All the euro needs is strong European data or a drop in the dollar index below 103.50 to start rising. But currently, analysts say that the euro lacks enough momentum to break above 1.10.

Everything depends on upcoming statements from the President of the European Central Bank. Any indication of a rate cut could weaken the stance further. Geopolitical tensions also play a role in strengthening the dollar as a safe haven, putting continuous pressure on the euro-dollar pair at higher levels.