(3 votes)

Last Updated Date: 8 April 2021 @ 6:17 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar was down on Thursday morning in Asia, alongside falling Treasury yields, as the U.S. Federal Reserve resolutely kept to a dovish stance in the minutes from its latest policy meeting.

The Fed’s minutes from its March meeting failed to offer any new catalysts to dictate the market direction and remained cautious about the road to recovery from COVID-19. The central bank reiterated its pledge to continue monetary policy support for the economy until the recovery was on a more solid footing, even as unprecedented stimulus measure saw the U.S. recovery gather pace. 
However, some investors remained optimistic about the U.S. currency’s prospects.

A degree of calm come has returned to the foreign exchange market, with the EURUSD shall be moving in a tight trading range for today, indicating 1.1920 as Resistance and 1.1840 Low.

Resistance 2        1.1920
Resistance 1        1.1900

Support 1             1.1860
Support 2             1.1840



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