The EUR/USD currency pair chart failed to show a clear direction of movement at the end of last week when the price was flat.
The aggressive price movement occurred last Wednesday when the reaction to the United States (US) inflation data was published.
The strengthening of the US dollar failed to continue following the retail sales data experiencing a decline for the December report.
The price is seen to be flat below the 1.03000 zone towards the end of the week as investors remain cautiously awaiting the inauguration of President Donald Trump earlier this week.
When continuing the opening of the early week trading in the Asian session this morning, the price is still slowly hovering below the 1.03000 zone.
The Moving Average 50 (MA50) resistance line on the 1-hour time frame on the EUR/USD chart was also tested and investors are watching for further price direction.
If the 1.03000 level remains a resistance for the price with signs of a price decline displayed, it is likely that there will be a decline towards the support zone at 1.02000.
If the price drops below the 1.02000 support tested earlier last week, the price will record a new 3-year low with the next target focused on 1.01000.
On the other hand, if the price shows a strong surge after surpassing 1.03000, the high reached last Wednesday will be challenged again.
Overcoming that height, the price will continue to rise higher with expectations heading towards around 1.04000.
