EURUSD surged past the 1.17 level amid a risk-on environment triggered by the US-Iran ceasefire announcement, which softened the dollar broadly. This de-escalation has led markets to price in modest Fed easing, contrasting with prior expectations of a steady policy stance. The ECB continues to maintain a hawkish yet patient approach, as the war's potential resolution could temper inflation and slow rate hike bets. Technically, support around 1.1630 offers a solid entry point on dips, with further gains possible if the ceasefire holds. Traders should closely monitor US data releases and the upcoming Islamabad talks, as any breakdown in peace could swiftly reverse dollar losses and pressure the euro.