The US dollar showed a dismal performance as trading headed towards the end of last week, but managed to show consolidation in the last session of the week.
The main focus of the market was on the US (US) NFP employment data report which invited a mixed reaction in the US dollar.
The increase in jobs in November increased to 227,000 showing an encouraging figure, but the unemployment rate increased from 4.1% to 4.2%.
The US dollar weakened in the early New York session on Friday when the report was published, but gradually strengthened towards the end of the last session.
On the EUR/USD currency pair chart, an attempt to increase the price to overcome the resistance level at 1.06000 can be observed.
However, after overcoming around 30 pips, the price plunged back to around 1.05500 at the end of the week.
The price movement has started to slow down, hovering around the Moving Average 50 (MA50) line on the 1-hour time frame on the chart, which investors will be watching for further price direction.
If the price plunge continues at the opening early this week, the extended bearish pattern is expected to approach last week's focus zone at 1.05000.
A decline lower could push the price down to around 1.04000.
However, if the price rebounds, the resistance level at 1.06000 will be attempted to be broken again this week.
Once successful, the price will record new highs with a target of heading up to 1.07000.
