The US dollar is still trading slowly but shows a slight increase from the 2-year low reached last week.
The development of the United States (US) economic stimulus package is still stagnant making investor confidence start to falter.
However, positive reports on the vaccine by Johnson and Johnson and Pfizer Inc on Tuesday supported market sentiment but did not have a significant impact on US dollar movements.
While the Euro moved horizontally in trading yesterday after European economic data published at the beginning of the session slightly increased the value of the Euro before the European currency moved slowly and horizontally all the way to the New York session.
The main focus of investors this week for the Euro is the results of the latest monetary policy meeting with the expectation that the European central bank will further increase policy easing and economic stimulus injections.
On the EUR / USD currency pair chart yesterday, the price is seen moving horizontally and remains flat below the Moving Average 50 (MA50) barrier level which signals a downward trend.
The two main zones seen will determine the direction of further movement on the EUR / USD chart.
The downward movement below the level of 1.20900 which is the RBS zone (resistance become support) will push the expected lower decline towards the RBS zone at 1.20000.
However, if the price jumps and passes the resistance zone of 1.21500 and also last week's high of around 1.21800, investors will see the price still continuing the bullish trend.
A higher rise will record the latest highs since trading April 2018.
