The weekend market is expected to slow down with most closing in conjunction with the Christmas celebrations with the main focus on Brexit developments.
The US dollar at the New York session yesterday was seen to be moving weaker despite the US-approved economic stimulus package approved by Congress by President Donald Trump.
The aid package that needs to be signed by him has been disputed by stating that the value of the $ 600 assistance to the people is very low while many are wasted on unnecessary things.
On the EUR / USD currency pair price chart, the price failed to fall lower below the RBS zone (resistance become support) 1.21800-1.12500.
On Wednesday, prices hovered over the RBS zone after several failed attempts to continue the decline.
In today's Asian session, the price started to rise from the zone and has passed the Moving Average 50 (MA50) barrier level, giving an early signal that a bullish trend change will happen again.
However, the current volatile market sentiment keeps investors wary of further price movements.
If the price continues to rise higher, the resistance level of 1.22500 will be tested again this week.
Passing the resistance zone will push the price towards the focus level at the height of 1.23000 to record the latest high since April 2018.
However, if the price falls until it passes the RBS zone 1.21800-1.21500, the further price decline will lead to the support zone below the level of 1.20900.
