The EUR/USD currency pair chart shows a horizontal movement heading into trading at the end of last week.
At the beginning of last week, the price surge continued to almost reach the 1.16000 zone with a level around 1.05700 which was reached as the highest record for 4 years.
However, the change in market sentiment that restored the US dollar has pressured the price to fall back down again.
The easing tension of the tariff war between the United States (US) and China restored the US dollar, but the market began to be cautious when China denied that negotiations were taking place with President Donald Trump.
The downward movement of the price on the EUR/USD chart approaching 1.13000 failed to maintain momentum before a rebound occurred.
The price is horizontal in a range of around 100 pips between the support zone at 1.13000 and the resistance at 1.14000.
Investors will be cautious this week ahead of several components of US employment data to measure the health of the labor sector which will be an important indicator for the Federal Reserve (Fed).
If there is a decline in price that breaks through the 1.13000 support after this, the bearish signal is clearer for the price to continue the downward pattern from last week.
For the focus on the next decline, the price will target 1.12000 and the 1.11000 zone.
On the other hand, if there is a big surge that then breaks through the resistance at 1.14000, the price has the potential to return to the high level reached last week.
Furthermore, the resistance zone at 1.16000 will be attempted to be broken before the price records the latest high again at the close of April trading.
