The dollar was up on Tuesday morning in Asia, but near a three-week low as investors await the U.S. Consumer Price Index (CPI) for March, due later in the day.
The greenback is trading "choppily" in a $1.17 to $1.20 range versus the euro. It is currently at $1.1904, near its weakest level since Mar. 23.
Boston Federal Reserve Bank President Eric Rosengren also said on Monday that the U.S. economy could see a significant rebound in 2021 thanks to accommodative monetary and fiscal policy, though the labor market still has much room for improvement.
The market is triggering a short term upturn showing new highs for today @ 1.1950. After that the market will suggest a turnover, for bear a trending selloffs to reach under the 1.1870 swing low. A close under Friday’s 1.1867 low will help motivate selloffs that will lead again to the 1.1762.
Resistance 2 1.1950
Resistance 1 1.1930
Support 1 1.1890
Support 2 1.1870