The USD continued to falter in this week's trading, which remained undermining its position as the king of the currency despite the United States (US) data being published with a positive reading.
The US consumer personal spending index, which fell short of expectations, was completely powerless to help the USD regain strength at a time when risk-on sentiment continues to shine on the market at the moment.
Even so, investors will likely be looking forward to the potential for an interest rate hike in 2022 in line with the Federal Reserve (Fed) having hurled hawkish statements at past meetings.
Monitoring the price to the chart of the EUR/USD pair has seen a plunge in the Asian session as well as the European session yesterday (Thursday) to track to the RBS (resistance become support) zone of 1.13000.
However, the decline was not seen to last long after the price movement only rebounded in the RBS zone as well as the Moving Average 50 (MA50) barrier level to return to make an increase.
Analysts expect prices to move slowly at the close of trading this week as most investors seem to be preparing to celebrate Christmas.
But if the price gives a surprise to show a more vigorous pace, of course the high level around 1.13500 is expected to be the focus if the price rises again.
It can be said that the price movement is likely to reach the resistance zone of 1.14000 if the price continues to perform well, which will give a more significant bullish signal.
On the other hand the 1.13000 zone remains the first direction to be hit if the price returns to make a decline before the high probability of the price may be able to continue the plunge.
A more severe plunge will see the price move towards the support level around 1.12650-1.12350 first after that level has often supported the price spike.
