Market movements remain uncertain as trade heads into the end of the week as investors still do not get a clear signal on policy setting by the Federal Reserve (Fed).
Signals continued to be clouded after the United States (US) jobless claims data issued yesterday rose higher than forecast, showing a poor figure.
Meanwhile, the NFP employment data report published last week was strong in addition to the percentage unemployment rate also decreasing.
Investors are now likely to see no need for the Fed to raise interest rates any further, and continue to ease monetary policy as discussed at last week's FOMC meeting.
The price chart of the EUR/USD currency pair is seen showing an increase of around 80 pips yesterday reaching a height of around 1.07900 in the European session.
However, in the New York session, prices fell again when the US dollar strengthened again, which was also supported by the increase in US 10-year treasury yields.
The price dipped to around 1.07300 at the end of the New York session and hovered slowly around that in continued trading in the Asian session this morning (Friday).
The price moving back below the Moving Average 50 (MA50) obstacle level on the 1-hour time frame on the EUR/USD chart gives an early signal for the price to continue the bearish trend movement.
If the price drops below the 1.07000 level, the decline will continue beyond the lowest level reached last Tuesday at 1.06700.
A further drop in price will lead to the 1.06000 support zone for the price to record a 5-week low.
But if instead the price shows a rebound at the end of the week, the resistance at 1.08000 will again be the focus to be tested after yesterday's rise failed to pass it.
A continued move higher beyond that zone will push the price back towards the 1.09000 zone and the 1.1000 resistance zone reached last week.
