Starting trading at the beginning of this week, the US dollar moved lower after disappointment in the United States (US) NFP employment data report on Friday which gave a negative impact on the US dollar.
The US dollar shrank compared to other major currencies in the market following investors again releasing grip on the US dollar after exhibiting solidification over the past week.
Hopes for the confidence in the US economic recovery faded again after seeing the jobs sector that was still cramped. However, analysts also suspect that the US dollar depreciation situation is likely to be temporary.
In the price chart for the main currency pair EUR / USD, prices are bouncing back after their losses over the past week breaking down to lows around 1.19500.
Based on the pattern of price movements, there are indications of changing trends after the initial price jumped over the Moving Average 50 (MA50) barrier on the frame of the 1 hour period.
Removing the hurdle at level 1,20000, prices continued their gains at the end of last week's New York trading session to the SBR level (support become resistance) 1.20550.
Continuing trading at the start of the Asian session for the start of this week, prices have shrunk slightly from this level with price movements seen as still slow.
German industrial spending data due for publication in the European session is seen to spur price movements on the EUR / USD chart today.
If the persistence price continues its advance, the SBR zone 1.20550-1.20900 will be tested before a successful advance is continued the price will also head to the 1.21800 hurdle zone.
On the other hand, if prices rebound, the support level seen at the level of 1.20000 before a lower slide will test last week's low at 1.19500.
Then the main support zone at 1.19000 will be the destination for the price to bear on the ever-decreasing price trend.
