Failing to show a clear direction for the early trade yesterday, the movements of the major currencies looked mixed.
The US dollar managed to show a strengthening against several other major currencies in the New York session yesterday after moving lower in the previous sessions.
Analysts warn that this uncertain situation will continue with the main focus now being directed to the presidential election event in the United States (US) which will take place tonight.
If you look at the price movement on the EUR/USD currency pair chart yesterday, the 1.09000 resistance zone was once again tested and the attractive price reaction was observed by investors.
Like the situation at the end of last week, the price still failed to break through the resistance to extend the rise higher.
The bearishness was reflected again as the trade towards the end of the New York session returned to levels around 1.08700.
Investors await the next indication to assess the direction of price movement but remain cautious expecting an uncertain situation for the next few sessions.
If yesterday's decline extends into today, the price is likely to head back to the 1.08000 concentration level.
Further lower, the previous week's level reached around 1.07600 will try to be overcome to record a new low.
However, if there is a strong surge in price past the 1.09000 resistance zone, it will signal a positive move higher for price to continue.
The price increase will target the next concentration level at the height of around 1.10000.
