Euro-dollar exchange rate at period highs. What are the next targets?

The EUR/USD exchange rate seems to show particular strength and, after having stably positioned itself above the 1.08 level, seems to be moving towards new technical levels.
What are the areas of greatest interest for currency market operators and what is pushing the value of the EUR/USD exchange rate so high? An overall look.
What is pushing the EUR/USD exchange rate up economically? A first element to consider is the weakness of the dollar.
The DXY (Dollar Index) continued the decreasing trend that began in mid-February.
Compared to the highs of the year, the dollar index is down by almost 8%.
The EXY, the euro index, is up by approximately 1.30% compared to the lows of the year.
This had an overall positive impact on the EUR/USD exchange rate, which increased by 1.50% compared to the lows of the year.
The weakness of the dollar reflects new expectations on market interest rates, also due, in part, to the latest shared economic data.
For example, the slowdown in industrial and construction spending in the United States contrasts with other economic data shared by the country, which also shows a strong degree of resilience in the US economy.
Just think of the raising of the US GDP outlook for 2024 and 2025 by the S&P500 Global Rating from 1.5% to 2.4%, without considering the latest surges recorded in the inflation rate.
A look at the EUR/USD exchange rate graph: what does the technical analysis say? The EUR/USD exchange rate, after breaking the 1.080 and a small retest in the following sessions, continued its upward journey, significantly approaching the 1.09 level.
The uptrend began with the February break down of 1.072: although the break of that support signaled weakness, it actually stimulated demand, which overpowered supply to today's levels.
After passing the 1.080 level, the trend consolidated, as demonstrated by the various tests carried out and particularly visible on a chart level.
The oscillators remained in a neutral zone on the chart, as indicated by the 14-period RSI on daily and weekly timeframes; the trend was best described by a constant alternation of overbought and oversold zones visible on an hourly timeframe.
New targets and future prospects for EUR/USD Starting from 1.07, exceeding and consolidating above 1.08, the first obstacle to overcome is that of 1.088, a figure on which it seems to insist at the moment.
Once this obstacle has been overcome, a strong resistance level is positioned at the 1.09 numeraire, a figure on which it traded a lot in the month of January, creating a real wall of orders easily visible from the futures market.
It goes without saying that the subsequent technical targets will be the 1.10 numeraire, a round figure that EUR/USD will not fly over so easily, and the real relative high of the last semester, the 1.11 level.