Heading into trading towards the end of the week, investors are increasingly wary of a back-to-back risky market sentiment with the focus on the developments in the Russia and Ukraine crises.
The risk is seen as increasing if the intervention of the United States (US) in the relationship also makes the situation more tense.
Investors are beginning to turn to safe haven assets such as gold, which can be seen in soaring value, as well as safe-haven currencies which are gaining ground in the risk-off market sentiment.
Even so, the US dollar in Thursday's trading last night was seen as not giving up and not showing a real strengthening even though several factors supported for the US dollar to strengthen such as US economic data published with increasing numbers and positive sentiment from the FOMC minutes.
The US dollar which failed to exert pressure was seen as still providing room for the Euro to hold on rather than shrinking lower in value.
On the price chart for the EUR/USD currency pair, the price is still swinging below the 1.14000 SBR (support become resistance) zone with the price decline taking effect last night on the back of the negative developments of the Russia-Ukraine crisis.
The price fell to around 1.13250 last night before bouncing back and leveled off around 1.13600 to end the New York session.
Analysts see a tendency for prices to fall lower following the risky market sentiment that is expected to trigger the strengthening of the US dollar at any time.
If the price decline occurs, the RBS (resistance become support) zone around 1.12700-1.12500 will be tested before the price moves to the 1.12000 support level.
On the other hand, if the market situation changes and the price jumps higher, breaking the 1.14000 SSBR zone will signal an initial bullish trend.
The price increase will be towards the level around 1.14500 and also the resistance zone 1.14800 before the level of 1.15300 will be the target for the price to record the level of the latest high.
