The end of last week's trading saw the US dollar re-strengthen following the risky market sentiment.
Wall Street markets closed lower while U.S. Treasury yields also declined.
Amid concerns over the increasing number of cases of Coronavirus infection, factors contributing to investor anxiety with the delay in the distribution of Pfizer vaccines in Europe are seen to be slowing down the economic recovery process.
Demand for the US dollar as a safe-haven increased again and at the same time, increased pressure on the European economy also affected the depreciation of the Euro.
Following that trading last Friday saw the price on the EUR / USD currency pair chart lower below the 1.21000 level.
Closing last week's trade around the 1.20800 level, the price continued to move slowly in the price zone during the Asian session for the start of trading this week.
A bearish move is expected to reach the focus level at 1.20000 if market sentiment remains unchanged.
However, if the price returns to rise above the level of 1.21000, a higher rise is expected to test the SBR zone (support become resistance) at 1.21500-1.21800.
Investors will also be wary of important economic data this week including European central bank policy meetings.
