The risky currency remains optimistic to continue trading until the end of the week as the US dollar remains weak in the hope that additional fiscal stimulus support in the United States (US) will continue.
House Speaker Nancy Pelosi expressed her confidence to reach an agreement in talks with Treasury Secretary Steven Mnuchin.
However, investors remain vigilant for any risk of disagreement in subsequent negotiations.
In a separate development in Europe, European Central Bank (ECB) President Christine Lagarde noted that the European economy faces various risks in moving towards recovery.
Investors are likely to see risks in trading for the Euro following a cautious statement by the central bank.
However, the Euro managed to trade better against the US dollar as shown on the EUR / USD pair chart.
In Thursday's trading yesterday, the price failed to pass the resistance level of 1.17800 has made a drop of around 50 pips almost to the level of 1.17300 before closing the New York session trading higher again.
Continuing trading in today's Asian session (Friday), the price is seen to show an increase after exceeding the Moving Average 50 (MA50) barrier level within the 1 hour time frame of the price movement.
The rise is seen to test the 1.17800 level again before heading to the resistance level of 1.18000. Breaking that level will record the latest height level of 2 weeks.
On the other hand, if the price makes a reversal, yesterday’s daily lows will be tested and a lower lows will signal the beginning of a bearish trend change.
The focus level on the next decline is at 1.17200 and the level of 1.16800 in the RBS zone (resistance become support).
