Currently, the EUR/USD price is at 1.08937, and the analysis suggests a potential upward movement in the near term. The projection indicates a climb to around 1.09683, where a retest is anticipated. However, traders should exercise caution as the price may encounter resistance at this level, leading to a subsequent downturn. The expected decline could bring the currency pair down to a range between 1.07700 and 1.07290.