The USD currency appears to re-translate the resurgence after being led by market concerns over the spread of COVID-19 epidemics that are widely transmitted in several countries.
The issuance of important data related USD including the minutes of the FOMC meeting on Thursday will be used as a Federal Reserve reference (Fed) prescribing an immediate increase in interest rates.
In the meantime, the proposals of a handful of Fed members expressing an opinion to accelerate the tapering move will also be a factor in further supporting the strengthening of the Greenback dollar.
It seems that the price on the EUR / USD currency pair is unable to keep the climb after the price return falls out of 100 pips when closing trades last week.
The fall of the price has completely eliminated the lowest record previously to once again create the lowest level since July 2020 recently around 1.12520 and made LL (Lower Low).
But the price was seen showing an increase in the New York (Friday) session to test the SUPPORT BECOME resistance 1.13000 before plunging until the beginning of the Asian session today (Monday).
The properly resumable decline trend has shifted investor focus for price movements to reach the latest support zone at around 1.12000.
That is the focus zone has also been an obstacle in July 2020 before changing to the RBS Zone (Resistance Become Support) in support of a 3-year high price surge.
On the other hand, if the price movement re-signaled to make a trend change to the bullish trend, the 1.13000 SBR zone seems to remain the nearest zone that will be re-tested.
The more fierce surge capabilities will show the price towards the next SBR zone at 1.14000 and thus issuing expectations for prices continue to climb higher.
