On Thursday, 14th of April the key currency pair EUR/USD fallen below the level of 1.1250 as an improvement in global sentiment led investors to trim bearish dollar positions.
Currently, the EUR/USD pair trades near to the mark of 1.126 by losing 0.1%.
As Reuters reports, “The Federal Reserve has highlighted global uncertainty as the major bar to another hike in interest rates. So, when upbeat trade data out of China and a pick-up in commodity prices seemed to lessen the risk of a deeper world downturn, dollar bulls figured there was now more chance of a move.
Analysts at CitiFX said recent developments might serve as "foundational encouragement" for investors to warm up to the idea of pricing in more tightening. “
The resistance levels for the euro are 1.1285 and 1.1310.
The support levels for the EUR/USD are following 1.1225 and 1.1194
Today, the Singaporean dollar loses more than 1% against the American dollar as Singapore's central bank citing a tougher outlook for economic growth, also boosted regional equities and gave the dollar a lift against that country's currency.
Currently, the USD/SGD pair trades near to the mark of 1.366.
The next resistance levels for the pair are 1.3700 and 1.3777
The support levels are 1.3640 and 1.3590.