The EUR/USD pair is currently experiencing a downward pressure, trading near 1.0880, due to a combination of factors including downbeat German export data and a more hawkish stance from the Federal Reserve compared to the European Central Bank (ECB). The pair has found support above the 1.0800 level, despite the lackluster trading day. The Euro’s performance was also affected by the US dollar’s resilience, which managed to remain steady despite the US Independence Day holiday. Looking forward, the Eurozone Producer Price Index (PPI) for May and the Federal Open Market Committee (FOMC) minutes will be crucial for immediate directions. Analysts from Nomura recommend buying EUR/USD with a target of 1.12 by the end of August and expect a further advance to 1.16 next year.