EUR/USD Movement 'Slow', Where is the Price Target Going?


Compared to the upward movement that successfully displayed the price on the chart of the EUR/USD currency pair at the beginning of last week, the price started to flatten on Tuesday's trading yesterday.

Last Monday's price increase reached a height of around 1.08600, while yesterday's horizontal movement just hovered below that level throughout the day.

However, the price movement that is still above the Moving Average 50 (MA50) support line on the 1-hour time frame on the chart still suggests a tendency for the price to make an increase.

Investors continue to monitor the economic data of the United States (US) published since yesterday and in the New York session tonight.

Next, only on Thursday the PCE index data will be the main focus observed by the Federal Reserve (Fed) in setting their monetary policy.

For the expected price movement on the EUR/USD chart further, the price increase if successful continues after this needs to first pass the 1.08600 level before reaching the height of last week.

The target to be tested is the resistance zone of 1.09000 which is expected to invite an attractive price reaction for further movement indicators.

Meanwhile, for the expectation of a price drop, the closest concentration level is at the 1.08000 zone, which is seen as a potential support when making prices.

If the penetration is lower, it will trigger a bearish signal and expect the price to drop to the level of 1.07000 that was tested in mid-February.