EUR/USD Flattened Last Week After Plunging Below $1.0900

<p>&nbsp;The US dollar finished last week on a high note supported by market sentiment factors that risk giving the safe-haven currency an edge.</p><p><br /></p><p>However, even though it moved positively, the US dollar did not show significant strengthening, with the movement at the end of the week seen as more flat.</p><p><br /></p><p>This week markets are focused on looking forward to the annual Jackson Hole Symposium which will bring together key individuals in the world of finance and may provide new clues to investors.</p><p><br /></p><p>Some important data such as production and service PMI as well as the United States (US) unemployment benefit claims can be seen to have an impact on the movement of the US dollar.</p><p><br /></p><p><br /></p><p><br /></p><p>On the chart of the EUR/USD currency pair last week, the price which has fallen below the 1.09000 zone has been rattling slowly with the lowest level broken on Friday being around 1.08500.</p><p><br /></p><p>The price is also staying below the Moving Average 50 (MA50) barrier on the hourly time frame on the chart which is still showing bearish trend signs.</p><p><br /></p><p><br /></p><p>As for the hope for a price decline if it continues again this week, the 1.08000 level remains as the closest target to be tested.</p><p><br /></p><p>Breaking this level would post a fresh 10 week low and should the price drop any lower, the target would turn to the 1.07000 level.</p><p><br /></p><p>However, if the price shows a surge this week, the initial barrier that will be tested is the 1.09000 zone after breaking the MA50 level.</p><p><br /></p><p>The rise higher will be continued after the trend change signal with the 1.10000 level waiting to be touched by the initial price.</p>