Not extending deeper declines, the US dollar ended trading at the end of last week with a flat and slow movement.
However, the US dollar still experienced one of its worst weekly performances this year due to expectations for further interest rate cuts by the Federal Reserve (Fed) after this.
After the NFP jobs report that declined earlier, the next focus will be on US inflation data which will be the latest indication of the Fed's policy direction and will also drive the US dollar's movement.
Examining the movement on the EUR/USD currency pair chart, the price has shown an increase to reach a high of 1.17000 last Thursday.
However, the higher increase did not continue, instead the price moved flat in the final sessions of last week to close around 1.16400.
Reopening again around the closing level in the first session of this week, the price showed a slow upward movement.
A slight rise above the Moving Average 50 (MA50) line on the 1-hour time frame on the chart provides an early signal for the potential bullish movement to continue.
Still, the price needs to first break through the resistance at 1.17000 to expect a higher target that will shift to around the 1.18000 zone.
However, if the price turns downward again this week, the closest is the 1.16000 level for the price to be tested.
Continuing the decline lower with a bearish signal, the price could drop towards 1.15000 or return to the 1.14000 support zone.
