The crisis situation is getting tense, Russia is rumored to be preparing to attack Ukraine at any time while Ukrainian President Volodymyr Zelensky is also not intimidated by Russian attacks.
Ukraine is now in a state of emergency where the Pentagon has warned that war preparations by Russia are almost perfect, and the Ukrainian people are also ready for war to ensue.
Risk-off market sentiment has pushed the US dollar back to strengthen in the New York session yesterday after a slightly gloomy movement in previous sessions.
Examining the price movement on the chart of the major currency pair EUR/USD, the price has resumed its decline after the rise in the European session which almost touched the level of 1.13600.
Signaling a bearish trend for the price, the decline has made the price move back below the Moving Average 50 (MA50) barrier level on the 1 -hour time frame on the EUR/USD chart.
Having slowed to the level of around 1.13300 at the close of the New York session, the price continued its decline at the beginning of the Asian session this morning (Thursday) towards the focus zone of 1.12700-1.12500.
With the risky market situation, the US dollar has the potential to push prices lower beyond the zone and head to the 1.12000 level.
However, investors still need to be vigilant if changes in market sentiment occur again to push up prices again.
The price increase will test the SBR (support become resistance) zone at 1.14000 which has not been broken since last week.
A higher rise past it will target the resistance zone around 1.14800 for a reversal of the bullish trend movement.
