EUR/USD Pressed Down Below $1.0800 Level

<p>In the prolonged uncertainty of the market, the US dollar is seen to still manage to show strengthening at the opening of trading early yesterday.</p><p><br /></p><p>Even so, investors remain vigilant following the important economic data of the United States (US) that will be published throughout this week.</p><p><br /></p><p>Apart from the NFP jobs report at the end of the week, the main focus will be on the FOMC meeting early Thursday morning.</p><p><br /></p><p>The market wants to know the decision of the monetary policy of the Federal Reserve (Fed) through the speech by Chairman Jerome Powell.</p><p><br /></p><p>Certainly the market movement will be turbulent especially for the US dollar and make investors uncomfortable.</p><p><br /></p><p>If you observe the price movement on the chart of the EUR/USD currency pair, the price shows a decline again reaching the level of 1.08000.</p><p><br /></p><p>Reacting to this important zone, the price bounced back after testing it before closing the New York session close around 1.08300.</p><p><br /></p><p><br /></p><p>Slow price movement resumed trading in the Asian session this morning (Tuesday) as it was seen testing the Moving Average 50 (MA50) barrier line on the 1-hour time frame of the chart.</p><p><br /></p><p>If the price decline occurs again, once again the 1.08000 support zone will be tested and the price reaction around it will be observed.</p><p><br /></p><p>If the support zone is broken, the bearish price movement will continue with the target moving to the 1.07000 zone.</p><p><br /></p><p>Meanwhile, the price making an increase past the MA50 barrier will give an early signal for a change in direction.</p><p><br /></p><p>The continued rise will try to pass the 1.09000 zone before extending it to a higher level towards the resistance target of 1.10000.</p>