The United States (US) NFP employment data report will be the focus of investors today (Friday) to assess the price movement for the US dollar.
But the focus was briefly on the escalation of the Russian-Ukrainian war crisis that heated up again in the Asian session this morning until the safe-haven currency began to strengthen.
Reported attacks on nuclear power plants in Ukraine by the Russian military indicate the attacks have not been stopped even in the negotiation phase.
Ukraine's foreign minister has urged Russia to halt attacks to allow firefighters to put out fires at Europe's largest nuclear power plant.
As market sentiment returned to risk, a clearer decline was seen on the EUR/USD chart after a bearish pattern had already begun to show on Thursday yesterday albeit at a slower pace.
The price remains moving in a bearish trend with the level of Moving Average 50 (MA50) on the 1 hour time frame of the price movement being a barrier to the price increase.
Continuing trading today, the decline almost reached the previous expected level of 1.10000 support zone.
With the situation continuing, prices are expected to continue their decline to record their latest lows since May 2020.
However, be careful if the price increase starts to pass the MA50 barrier for signs of a change in trend.
The SBR (support become resistance) zone of 1.11300 will be the initial focus before the price continues to rise towards the 1.12000 level.
The NFP report will be the focus of the New York session shortly while the development of the Russia-Ukraine crisis will continue to be monitored.
