Despite the United States (US) retail sales data for September published positive, it still failed to boost the movement of the USD currency at the close of trading last week.
Investors are seen waiting for the latest news on expectations for policy tightening (tapering) to be implemented by the Federal Reserve (Fed) as early as November.
Following these factors as well as despite being supported by some positive data, the USD remains shaky to continue its excellent performance after the price reaches a 2021 high.
On the price chart of the EUR/USD pair, the price is seen struggling to fly higher as the price still fails to continue to break the SBR (support become resistance) zone of 1.16000.
The price movement also seems to be back exhibiting a decline and hovering below the Moving Average 50 (MA50) barrier level on the 1-hour time frame for the initial signal of a bearish trend.
Entering the Asian session today (Monday) at the opening of this week's trading, the price seems to continue to plunge after reaching a high of around 1.16200 last week.
The resistance level of 1.16000 still remains the focus level to be tested once again for investors to see the direction of the next more encouraging price movement.
If the price is able to break the resistance level, the price is expected to head to the SBR zone at 1.17000 and will convince investors for the price to give an indication of a change in the bullish trend.
Yet if the price movement continues to sustain the decline, the 2021 low around 1.15300 reached last week will once again be tested.
A lower price decline above that level will also show that prices continue to record the latest lows in 2021.
