The uncertain market situation towards the end of February trading has increased investor caution to avoid losses.
The direction of the US dollar's movement is still unclear with fluctuations in value occurring on Wednesday, but it is seen as better than the decline on Tuesday.
Concerns over the Trump tariff issue have supported the US dollar as a safe-haven currency, but investors are awaiting important data to be published, namely the United States (US) economic growth report and the PCE price index.
Examining the EUR/USD currency pair chart, the price is still seen hovering in the focus zone at 1.05000 since the beginning of this week.
There were attempts to record prices to new highs, but at the end of the New York session the price was again pressed below 1.05000.
Hovering slowly around 1.04800 in the early Asian session this morning (Thursday), the price is below the Moving Average 50 (MA50) resistance line on the 1-hour timeframe on the EUR/USD chart, giving an early warning of the start of a bearish pattern.
If a lower decline occurs after this, the target is to head towards the 1.04000 level to retest last week's support.
Breaking through this support will also push further declines towards the February focus zone at 1.03000.
However, on the other hand, if the price makes a rebound above the 1.05000 level, there is a possibility that this week's highs will be surpassed.
Next, the price will record new highs towards a higher target around 1.06000.
