The US dollar moved flat in Wednesday's trade yesterday as the strengthening momentum of the previous day began to fade back.
Still at risk of experiencing a depreciation of the US dollar, the Federal Reserve (Fed) is under pressure to ease its monetary policy at its September meeting.
However, the current risky market situation is also a factor that can increase the value of the US dollar as a safe-haven currency.
Examining the price action on the chart of the EUR/USD currency pair, the price was flat above the 1.09000 zone throughout Wednesday yesterday after falling the previous day to that zone.
The US dollar failing to sustain its further strengthening has prevented a further fall in price below the 1.09000 zone.
However, price movement hovering below the Moving Average 50 (MA50) obstacle line on the 1-hour time frame on the chart will remain a signal for the bearish movement to continue.
Investors remain alert to observe the current situation in the market which may influence the direction of further price movements, especially for the US dollar currency with a focus on economic data from the United States (US) in the New York session tonight.
A drop below the 1.09000 zone would expect the price to continue the previous bearish movement to head towards the 1.08000 target which was the focus zone in last week's trading.
However, if the price manages to jump higher again after failing to penetrate below 1.09000, the price increase will approach the height of 1.10000 again as a resistance zone to be tested.
