Market movement was slow on Monday as investors digested the new indicators at the early opening of the week.
The US dollar was mixed in different sessions and moved weaker against several major currencies.
Investors were also more cautious awaiting the next indicator after last week's NFP report, which is the release of the US consumer price index (CPI) data on Wednesday, which also serves as a guide for the central bank.
Examining the price movement on the EUR/USD currency pair chart, the price moved flat yesterday above the 1.14000 level after a decline since the end of last week.
The slow price movement moved in a range of around 50 pips until trading resumed in the Asian session this morning (Tuesday).
The slow price increase was also seen to be unsuccessful in breaking through the Moving Average 50 (MA50) barrier on the 1-hour timeframe on the EUR/USD chart, which was seen as a signal for further movement.
The 1.14000 level is still seen as a support for the price during the decline shown in the Asian session this morning.
If the level fails to curb the fall, the price is likely to plunge lower towards the focus zone at 1.13000.
The situation could be driven by the strengthening of the US dollar after the publication of US inflation data.
However, if the price makes an increase from the 1.14000 level, the target is to retest the 1.15000 resistance zone before continuing the increase higher.
If successful, the price will record a new 7-week high with the target moving to 1.16000.
