As expected, the Euro currency is still at risk of moving strong after economic pressures that called for stricter movement restrictions, particularly in Germany, to curb the spread of viral infections.
Therefore, it can be seen that the price movement on the chart of the EUR / USD currency pair began to make a decline after the bullish price failed to be maintained.
In addition, the US dollar also showed a resurgence in the market supported by good economic data showing the consumer sector in December supported the expected inflation rate hike.
Investors are also likely to decide to exit the market and take advantage of previous positions while awaiting Joe Biden's statement on the US economic stimulus package.
The price on the EUR / USD chart is seen as preventing the rise to the SBR minor zone (support become resistance) at 1.22200 before the price decline was displayed on Wednesday trading.
However, the price decline is still testing the RBS zone (resistance become support) previously with the support level of 1.21500 tested.
Continuing in the Asian session this morning (Thursday), prices are moving horizontally in the RBS zone and are also starting to be below the dynamic barrier of the Moving Average 50 (MA50) which is likely to signal a lower price drop.
If the price continues to decline, the focus zone at 1.20900 is seen as the next target price target.
However, if the price manages to jump again, the SBR level of 1.22200 will be tested again before the price penetrates towards the SBR 1.22500 zone.
