After Last Week's Price Drop, EUR/USD 'Healing' In The $1.0900 Zone

<p>&nbsp;The market movement at the beginning of the week yesterday was still slow with investors examining the main economic data that will adorn the market throughout the week.</p><p><br /></p><p>The focus will be on the ECB forum event in Sintra, Portugal which will involve the governors of the main central banks as a panel including Jerome Powell (FED), Andrew Bailey (BOE), Kazuo Ueda (BOJ) and Christine Lagarde herself.</p><p><br /></p><p>The US dollar currency moved sluggishly on Monday yesterday, failing to give investors a clear direction until trading into the New York session.</p><p><br /></p><p><br /></p><p><br /></p><p>If you look at the chart of the EUR/USD currency pair, the price is only hovering slowly in the range of 30 pips by moving around the 1.09000 zone throughout the night.</p><p><br /></p><p>The attempted price increase is also seen to be held back by the Moving Average 50 (MA50) barrier level on the 1-hour time frame on the chart before leveling off and closing the New York trading session around 1.09050.</p><p><br /></p><p>Price movement remained slow continuing the opening of the Asian session this morning (Tuesday) with the 1.09000 zone seen to continue to be tested.</p><p><br /></p><p><br /></p><p>If there is a clear signal for a bullish move, the resistance level at 1.10000 remains a target to break after it was reached last week.</p><p><br /></p><p>The price will record the latest 7-week high if it crosses 1.10000 with expectations towards 1.10700 or reaching 1.12000.</p><p><br /></p><p>On the other hand if the price plunges after this, the lowest level reached last week around 1.08500 will be the closest level to target first.</p><p><br /></p><p>Next, the price will continue its decline towards the concentration zone at 1.08000 or even lower if the US dollar has started to show its strengthening again.</p>