After ending last week's trading slowly and flatly, the US dollar opened higher to start the opening of this week.
This situation was driven by market risk sentiment after the United States (US) finally joined the war by attacking 3 major Iranian nuclear facilities.
President Donald Trump called on Iran to end the war and warned of more attacks if Iran persists.
Ignoring Trump's warning, Iran continued a new round of attacks on Tel Aviv and threatened to close the Strait of Hormuz.
Examining the price movement on the EUR/USD currency pair chart, after closing last week's trading at 1.15200, the price opened lower at 1.14500, which is the current support zone of last week's price.
However, the strengthening of the US dollar did not continue with the price showing a rebound in the Asian session this morning testing the important level of 1.15000.
The market is likely to expect a strengthening US dollar in the increasingly tense war situation, which will push the price lower below the 1.14500 level.
Next, the 1.14000 zone will be the focus if a lower decline occurs.
However, investors are cautiously expecting a reverse movement situation based on current developments in the market.
If the price makes a higher increase above 1.15000, it is likely that the resistance zone at 1.16000 will return to be the target to be reached again.
