EUR/USD Breaks Lower, But There Are Important Indicators Today!

<p>&nbsp;The US dollar is seen to still maintain its strengthening yesterday at the highest level in 1 month, but is seen to be a little gloomy towards the end of trading in the New York session.</p><p><br /></p><p>The United States (US) published positive retail sales data further reduced expectations for the Federal Reserve (Fed) to lower interest rates in the near term.</p><p><br /></p><p>If the situation continues, the US dollar is able to maintain its recovery after the poor performance exhibited at the end of 2023 trading.</p><p><br /></p><p>On the chart of the EUR/USD currency pair, the price moved slowly but recorded a decline to a new low for the 5-week trading period.</p><p><br /></p><p>Touching a low of around 1.08450, the price has bounced back and continued its gains in the Asian session this morning (Thursday) to around 1.09000.</p><p><br /></p><p>The price increase is slow, but is seen to have crossed the Moving Average 50 (MA50) barrier on the 1-hour time frame on the chart, giving an early signal for a bullish movement.</p><p><br /></p><p><br /></p><p>If the move higher successfully continues, the price will head back to the concentration zone at 1.10000 before.</p><p><br /></p><p>In the weeks already, several times the price was seen testing the 1.10000 resistance but still failed to break through.</p><p><br /></p><p>Investors remain alert for the expectation that price declines will continue further towards the end of the week.</p><p><br /></p><p>If the price falls flat, the focus is for the price to reach around the 1.08000 level and continue to record the latest low.</p>