The US dollar remained in a bearish mood at the end of last week's trading to end trading at the end of November.
The latest indicators will be observed this week with several US economic data to be published, especially the NFP employment data report for November.
However, most major currencies are still not seen to take advantage of the opportunity to strengthen. There is a price increase, but slowly.
Examining the movement on the EUR/USD currency pair chart, the price showed an increase in the trading pattern last week but did not pass the 1.06000 level.
Like the previous week, the 1.06000 level became a resistance that prevented attempts to rise higher.
At the end of last week, the price also leveled off below the resistance level until the last session.
Resuming trading at the opening of the previous week for the beginning of December, the price showed a decline towards 1.05000.
The price moving below the Moving Average 50 (MA50) resistance line on the 1-hour time frame of the EUR/USD chart signals a renewed bearish movement.
If the price decline continues below 1.05000, it is possible that the price could fall to around 1.04000.
Lower still, the price target is to reach the lowest level this year, which is around 1.03330.
On the other hand, if the price manages to make a comeback, the resistance at 1.06000 remains the main focus to be overcome.
If successful, a higher increase will be driven for the price to record a new 3-week high towards the target at 1.07000.
