EUR/USD gains as European markets await mixed open amid tariff relief

EUR/USD has advanced 0.25% to 1.0850 in early European pre-market trading as the dollar weakens following the tariff deadline extension to August 1. European equity futures point to a mixed open, with DAX futures up 0.3% while CAC40 futures remain flat. The relief rally in risk assets supports the euro, though concerns about potential BRICS-related tariffs cap gains. Today's Eurozone Retail Sales data could provide additional support if figures exceed the 0.3% monthly forecast. Technical analysis shows EUR/USD facing immediate resistance at 1.0870 (Friday's high), with support established at 1.0820. The pair's ability to sustain above the 1.0850 level will be crucial for continuation toward 1.0900. Traders remain cautious as geopolitical uncertainties persist despite the temporary tariff reprieve.