The US dollar ended last weekend's trading with a decline in the last session after showing strengthening in previous sessions.
The focus will be on the minutes of the FOMC meeting as well as the US NFP employment data report that will have an impact on the movement of the US dollar this week.
However, price movements at the beginning of the week are expected to be gloomy with banks in the US still closed in conjunction with the public holiday.
The Euro, meanwhile, was seen trading depressed last week with the European economy still showing a bleak signal with inflation readings on data published over the weekend rising.
Still, expectations for the European central bank (ECB) to raise interest rates could lead to a surge situation in the value of the Euro.
On the price chart of the EUR/USD pair, the price is still not able to break the support zone of 1.04000 after being tested several times in last week's trading.
On Friday, it can be seen that the price dropped to test the support and then bounced back to close the last session of the week at around 1.04300.
However, market analysts still see the price movement is in a bearish trend with the upside still hindered by the Moving Average 50 (MA50) barrier level on the 1 -hour time frame on the EUR/USD chart which is an indicator of price trend change.
Continuing trading in the Asian session this morning (Monday), the price is still hovering below the MA50 barrier level with the expectation that the price decline will continue again.
The decline will once again test the 1.04000 support zone before the price that passes the zone will record the latest lows for 20 years.
The nearest expected level for the latest decline is seen to be around the 1.03000 zone.
On the other hand, if the price rebounds after reaching the support zone of 1.04000, passing the MA50 barrier will signal a change in trend before the price heads to the 1.05000 zone to test the resistance zone.
The continued rise will lead to last week’s early focus resistance at 1.06000.
