EUR/USD recovers to 1.1781 after rejected from the support at price 1.1757.

Sellers rejected at 1.1757 support zone

This pair is defended the daily chart channel support at price 1.1757 and is currently trading at price 1.1781.

On Tuesday, due to the dovish messages from the European Central Bank (ECB) and risk aversion in stock markets boosted Eurozone government bonds, pushing yields lower. result the shared currency fell by over 0.30%.

The markets expect the central bank to signal readiness to do more as inflation expectations have declined with the euro's recent strength. Conclusion, the single currency may have a tough time holding on to gains seen at press time. A violation of support at 1.1757 would imply bearish reversal. Dovish refers to the opposite. When central bankers are talking about reducing interest rates or increasing quantitative easing to stimulate the economy they said to be dovish.