Investors were more cautious after witnessing volatile movements during the 2020 US Presidential election took place with the vote count still pending.
As far as the current vote count, Joe Biden is seen approaching victory over Donald Trump to head to the White House but anything can happen before the final results are announced.
For the financial markets, the US dollar weakened again after a significant strengthening was shown at the start of the Asian session yesterday as the counting of votes began due to market reactions to the current results.
On the EUR / USD currency pair chart, the price is seen plunging 160 pips from the high level of 1.17700 to reach almost the level of 1.16000 in Asian session trading.
Then it can be seen that the price returned to rise again around 140 pips in the European and New York sessions and closed trading around the level of 1.17200 which was the previous focus level.
Indeed, abnormal price movements make investors restless and difficult to control trading risk for daily positions with unclear price movements while the focus will also be on the FOMC meeting for the Federal Reserve (Fed) decision on central bank policy.
If the price rises, the SBR (support become resistance) zone at 1.18000 will be the focus before a higher rise is expected to test the resistance zone at 1.19000.
On the other hand if the price falls again, focus on the support zone at 1.16800 and the lower at 1.16000.
