The heartbeat is getting stronger after the long -awaited day has arrived to see the publication of the United States (US) NFP data report for November at the New York session tonight (Friday).
The market is targeting the probability that the USD is likely to strengthen following a hawkish statement by the Federal Reserve (Fed) on plans in implementing policy tightening.
It is also pointed out that the satisfactory publication of the ADP NFP data report for private sector employment is likely to be a small factor in expecting the NFP data to be strong.
It seems that the price on the chart of the EUR/USD currency pair seems to want to give an early signal to make a clearer movement after the price showed a plunge action in the New York session on Thursday.
The dive is also completely seen to have already overcome the resistance level of 1.13000 and thus already traded below the resistance level of the Moving Average 50 (MA50) for the shadow of the downtrend.
However, the price movement appears to be moving only slowly at the beginning of the Asian session today (Friday) in anticipation of the opening of the European session and New York soon to return to brisk.
That is, the focus of investors is on the support zone of 1.12000 if the price on the EUR/USD chart continues to receive pressure from the strengthening of the USD before it is expected to be able to test lower levels.
The 2021 lows around 1.11900 are also not far behind to be hit if the price remains declining and while a more severe decline will see the latest record lows be created again.
But on the other hand if the reading is less encouraging during the release of US NFP data in the New York session tonight, analysts expect the price is likely to retest the 1.14000 zone.
Moreover, the zone has also been a resistance zone since June 2019 before it was successfully 'invaded' in July 2020 until the price movement was able to create the highest level in 3 years.
