Market movements in the last session last week were influenced by mixed reactions when the latest United States (US) NFP employment data report was published.
Looking at the report, job gains in October recorded a surprising figure of only 12,000, far short of the forecast of 106,000.
However, the report is said to record less accurate readings due to the hurricane disaster that hit some areas in America, while the readings for average income and the unemployment rate were not affected.
The US dollar weakened for a while after the report was published, but returned to show recovery towards the end of the session as well as closing the week's trading.
If observed on the chart of the EUR/USD currency pair, the price had time to test the 1.09000 zone before retreating from the resistance.
The decline was close to around 1.08300 at the close of the last session, but opened higher at the start of the Asian session this morning (Monday) above 1.08700.
A slow upward price is seen retesting the resistance zone at 1.09000 with price reaction observed for further direction.
Bullish signals are restored after prices moved above the Moving Average 50 (MA50) support line on the 1-hour timeframe on the EUR/USD chart, but investors will be wary of this week's volatility ahead of the US presidential election.
If the price jumps high after successfully breaking through the 1.09000 zone, a higher increase will be expected towards the 1.10000 level to test it.
However, if the opposite situation occurs, the price plunge will return to around 1.08000 or sink lower below it.
