The euro witnessed a rise in the early Asian sessions against the dollar after the pair ended Friday trading below the 1.0960 level.

The dollar had received strong support as a result of the issuance of some statements by decision-makers within the Federal Reserve, specifically the President of the Federal Reserve Bank of New York, John Williams, who opposed market expectations of lowering interest rates, stressing that members of the Federal Reserve are not talking about interest rate cuts at present and that he is focusing on Whether the interest rate is at the right level to reduce inflation.

The rise that the euro witnessed against the dollar today is due to the numbers recorded by the euro, correcting its recent losses before the release of the German data scheduled for today, in addition to the talk of some officials of the Board of Directors of the European Central Bank about economic developments in the eurozone and the future of European interest rates in 2024.
Note that trading was rising around the 1.0910 area during today's early session.

The euro is awaiting the Consumer Price Index data, which measures the change in the prices of goods and services from the consumer's point of view, on Tuesday, which is of course a main way to measure changes in inflation, which will have a strong shadow on the pair's movement.

As for the technical indicators, the current readings about the analysis in the four-hour range are heading toward a continuation of the rise in prices and movement in favor of the upward trend, with the Relative Strength Index remaining above the 50-level barrier, with the MACD supporting it with the possibility of continuing the upward trend above zero levels.

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.