The US dollar did not extend its decline at the opening of the early week yesterday, but remains risky by displaying a mixed movement pattern.
The heat of the tariff war involving the world's two largest giants shows no signs of abating as the tariff rate exceeds the 100% level.
The ongoing pressure on the American economy will also push the US dollar further down.
If this happens, the EUR/USD currency pair chart will continue to extend last week's upward trend to even higher levels.
At the close of last week, the price had already reached the 1.14700 level, which was a record high in 3 years.
However, the price slightly decreased to the 1.13000 zone and the price movement was flat between that range at the opening of the early week yesterday.
The price's slow move above the .13000 zone in the Asian session this morning (Tuesday) triggered an early signal for bearish movement when it started to fall below the Moving Average 50 (MA50) resistance line on the 1-hour time frame on the EUR/USD chart.
With the expectation that the US dollar will continue to move weakly in the market, the price increase could occur to the 1.14000 zone.
Next, last week's high of 1.14700 will be challenged for the price to record a new high again with the next target shifting to around 1.15000.
However, if there is a decline below 1.13000, a price trend change will occur which will reverse the previous pattern.
For further declines, the price will head towards previous focus levels such as around 1.12000 and the important zone of 1.11000.
