The US dollar, which traded weak again on Tuesday, has pushed the price up on the EUR/USD currency pair chart to a 4-week high.
The US consumer confidence survey report that declined in February sparked concerns about the country's current economy.
Concerns are also directed at the Mexican and Canadian tariffs that will be continued in March after President Donald Trump previously postponed it for a month.
The EUR/USD chart is again showing a bullish signal after the price started moving above the Moving Average 50 (MA50) support line on the 1-hour timeframe.
On Monday, the price managed to make an increase at the opening of the week, but the price's re-decline triggered a signal to be careful with a change in direction.
The price held at the 1.04600 level after the decline, then managed to show a rebound.
After successfully breaking through the 1.05000 resistance yesterday, the price hovered around that zone in Asian trading this morning (Wednesday).
The high reached at the beginning of the week is the target for the price to challenge before recording a new high.
For a higher increase if it continues, the target is to head towards the 1.06000 height.
However, if the price drops below the 1.05000 zone again, it is possible for a price trend change to occur.
The price decline can be expected to head towards last week's support at 1.04000.
