EUR/USD: Yesterday the pair slightly strengthened amid weakening in the US dollar that was pressured by the publication of the FOMC Minutes. According to the Minutes, the majority of members voted against an interest rate hike in April. In addition, they noted the existence of substantial risks in the world economy and, therefore, monetary policy tightening in the US is likely to proceed at the slower pace.
At the same time, the dollar was supported by data on the MBA Mortgage Applications for April in the US that showed a growth of 2.7%.
The pair continues trading near the upper border of the sideways channel at the level of 1.1431, a breakout of which would open the way towards 1.1540.
The nearest support level is at 1.1334.
The nearest resistance level is at 1.1431.