The US Dollar maintained a gloomy trade performance until the closing last week following investor concerns over the risk of the US economic recession due to tariff issues.
The euro currency is seen to have a slight improvement compared to the US dollar on Friday despite Europe also facing tariff pressure by President Donald Trump.
This week's focus will be on the latest FOMC meeting with the expected interest rate.
But the follow -up speech to be delivered by the Chairman of the Federal Reserve (Fed) Jerome Powell will provide indication of monetary policy direction and also affect market movements.
Listening to the Movement on the EUR/USD currency pair chart last week, the dropping price to 1.08000 showed a spike last Friday.
The rise of about 80 pips is seen back to test the 1.09000 zone, but prices have not been able to continue to higher before retreating a little before the closing of the last week's trading session.
Horizontal around 1.08000 at the opening level of the Asian session this morning (Monday), the price moves above the Moving Average 50 (MA50) support line on the 1 hour frame on the EUR/USD chart proposes a bullish signal.
But it is still early for investors to determine the next direction while observing important indicators in the market.
In the event of a price increase, the 1.09000 zone will be overcome before challenging last week's height of around 1.09400.
Next, the latest target is at 1.10000 to achieve for the latest 5 weeks.
On the other hand, if the price decreases, the support level is at the 1.08000 zone which is located at the price last week.
If the decline penetrates the level, it will provide a clearer signal for the price bearish movement to start by targeting 1.07000.
