The US dollar is showing recovery as market sentiment is seen as risky again, but movements at the beginning of the week are still weak.
Market concerns hovered over the slow development factors of the Coronavirus assistance package in the United States (US) and recent tensions between the U.S. and China after Washington ordered Google and Apple to remove the TikTok and WeChat apps from their respective platforms.
The US dollar movement is expected to be more active in today's New York session in response to a speech by Federal Reserve (Fed) chairman Jerome Powell.
The price movement on the EUR / USD currency pair charted flat on Friday below the 1.18700 level after the previous day's rise jumped over 100 pips above the Moving Average 50 (MA50) barrier within the 1 hour time frame of the price movement.
Investors look forward to trading on Wednesday with the release of European economic data which is expected to have a greater impact on the movement of the Euro.
Investors who see the price still in a bullish trend will expect an increase to test the resistance level of 1.19000 which is the SBR zone (support become resistance).
A higher rise is likely to return to a high of around 1.20000 again.
On the other hand, if the price falls again below the support level of MA50, the price support level is seen at 1.18000.
The decline that penetrates the zone is seen to be driven towards the support zone at 1.17200.
