Price movements on major charts slowed down yesterday Thursday as expected due to the American market being on holiday for Thanksgiving.
The US dollar moved sideways after investors witnessed a dismal performance last Wednesday when the latest US data published failed to inject new impetus into the king of currencies.
However, other major currencies in the market did not seem to take advantage of the situation by remaining slow, possibly due to the market being cautious about the risks of the November closing trade.
Looking at the movement on the EUR/USD currency pair chart, the price was flat throughout Thursday yesterday after the previous day's increase in price almost touched the 1.06000 level.
The level remains a resistance after being tested last week, preventing a higher price increase from occurring.
The price still shows potential for an increase due to the price movement still being above the Moving Average 50 (MA50) support line on the 1-hour time frame on the chart, which maintains a bullish signal.
The price increase attempt if continued at the end of this week will continue to test the 1.06000 resistance to be broken.
If successful, a higher increase will be shown before heading towards the focus level at 1.07000.
On the other hand, if the price plunges again, the 1.05000 level will be the closest target price before the decline continues.
Next, the 1.04000 level will be the next focus or even lower is the decline reached last week around 1.03330.