Ahead of the US NFP (US) employment data report on Friday, the US dollar has shown strengthening to a 2-month high against the Euro and the Yen.
Investor confidence in the US economic recovery is still supported by the hope of an economic stimulus package under the new Presidential administration.
Senator Democrats are determined for the aid package to be launched immediately even without the support of Republicans who previously wanted a revaluation of the package at a lower value.
On the EUR / USD currency pair price chart, the price remains continuing the bearish pattern at the beginning of the week.
The Euro failed to outperform the US dollar despite the published European zone economic data.
Prices slipped to the 1.20000 focus support zone before New York session trading closed slightly higher again.
The price remains moving below the Moving Average 50 (MA50) barrier level over the 1 hour time frame which indicates a bearish trend for EUR / USD.
Continuing the Asian session trading this morning (Thursday), the price re-tested the MA50 barrier with the expectation that the price will resume a decline.
The price drop will again test the 1.20000 support zone to continue recording the latest 9-week low.
The next level of around 1.90000 will be the latest focus of prices if market sentiment continues to push lower prices.
On the other hand, if the price manages to jump again, the SBR (support become resistance) levels of 1.20550 and 1.20900 will be tested for a move to a higher price level.
Investors will be on the lookout for NFP employment data reports which will have a more attractive impact on weekend trading.
