The US NFP employment report published in the New York session last Friday invited mixed reactions to the movement of the US dollar.
The increase in jobs recorded for April was 177,000, showing a better figure than the forecast of 138,000.
However, the figure was lower than the previous month which was also revised down.
Average hourly wages fell 0.2% compared to expectations to remain at 0.3%, while the unemployment rate met the forecast to remain at 4.2%.
The US dollar weakened briefly at the beginning of the report, but gradually strengthened again until trading towards the end of the last session of the week.
Examining the movement of the EUR/USD currency pair chart last Friday, the price made an increase from the support zone of 1.13000 until the rebound that reached the level of 1.13800.
Then the price retreated back down and slowly ended the New York session around 1.13000.
The opening of the Asian session earlier this week showed a slow rebound in price from the 1.13000 zone while the market was still digesting the current situation in the market.
If the price continues to rise, the level reached last Friday will be tried to be overcome before later testing the resistance zone of 1.14000.
Exiting the 100 pip horizontal zone will strengthen the previous bullish price movement signal which will return to targeting a height of 1.16000.
Meanwhile, if the price plunges and breaks through the support at 1.13000, a lower price plunge is expected to occur with the support of further strengthening of the US dollar.
The continued decline in price is expected to be around 1.12000 as the nearest target before heading towards the focus zone at 1.11000.
