EUR/JPY Tests nine-day EMA support after easing below 184.00

April 2, 2026
  • EUR/JPY may encounter initial resistance near 184.70 at the upper ascending triangle boundary.
  • The Relative Strength Index near 52 indicates steady momentum.
  • Immediate support is seen at the nine-day EMA near 183.80.

EUR/JPY depreciates after two days of gains, trading around 183.90 during the Asian hours on Thursday. The technical analysis of the daily chart suggests the currency cross is moving sideways within an ascending triangle pattern, indicating consolidation. However, the structure reflects rising support levels meeting a relatively flat resistance zone, signaling building pressure that could lead to a breakout. A sustained move above resistance would confirm bullish continuation.

The near-term bias is mildly bullish as the EUR/JPY cross holds above the 50-day Exponential Moving Average and the nine-day EMA tracks just beneath spot, reinforcing a shallow upward slope. The Relative Strength Index (RSI) near 52 stays above its midline and confirms steady, rather than aggressive, upside momentum, with recent pullbacks finding demand before the medium-term average.

The EUR/JPY cross may find the initial resistance around the upper ascending triangle boundary at 184.70. A successful break above this triangle would reinforce the bullish bias and lead the currency cross to explore the region around the all-time high of 186.88, reached on January 23.

On the downside, the immediate support lies at the nine-day EMA of 183.80, followed by the 50-day EMA at 183.39. Further support lies at the lower boundary of the ascending triangle around 182.80. A break below the channel would expose a nearly four-month low of 180.81, recorded on February 12.

EUR/JPY: Daily Chart

(The technical analysis of this story was written with the help of an AI tool.)

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.46%0.55%0.37%0.28%0.72%0.71%0.53%
EUR-0.46%0.09%-0.11%-0.21%0.27%0.26%0.06%
GBP-0.55%-0.09%-0.19%-0.28%0.18%0.19%-0.03%
JPY-0.37%0.11%0.19%-0.10%0.35%0.34%0.15%
CAD-0.28%0.21%0.28%0.10%0.45%0.43%0.25%
AUD-0.72%-0.27%-0.18%-0.35%-0.45%-0.01%-0.23%
NZD-0.71%-0.26%-0.19%-0.34%-0.43%0.00%-0.20%
CHF-0.53%-0.06%0.03%-0.15%-0.25%0.23%0.20%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

USD/CHF rises above 0.7950 ahead of Swiss CPI inflation data

April 2, 2026
  • USD/CHF climbs to near 0.7985 in Thursday’s early European session. 
  • Trump said the US’s war objectives are nearing completion and threatening to hit Iran hard over the next two to three weeks.
  • The Swiss March CPI inflation data will be released on Thursday.  

The USD/CHF pair jumps to around 0.7985 during the early European session on Thursday. The Greenback strengthens against the Swiss Franc (CHF) following an address to the nation by US President Donald Trump. Traders will keep an eye on the Swiss March Consumer Price Index (CPI) data, which is due later on Thursday. 

Trump said during a primetime televised speech from the White House on Thursday that his core “objectives are nearing completion” in Iran and expected another two or three weeks of involvement. Nonetheless, he signaled that the US is prepared to intensify its military response in the remaining time period and threatened to bring Iran “back to the stone ages.” Persistent tensions between the US and Iran could underpin the US Dollar (USD) in the near term.

The Swiss Federal Statistical Office will publish its inflation data on Thursday. The monthly and annual CPI are expected to show a rise of 0.5% for March. The persistent low inflation has led the Swiss National Bank (SNB) to maintain a cautious stance. 

Traders will shift their attention to the US jobs data on Friday. Markets expect the Nonfarm Payrolls (NFP) to show 60,000 in March, while the Unemployment Rate is projected to hold steady at 4.4% during the same period. If the reports show weaker-than-expected outcomes, this could undermine the USD against the CHF.

Offshore Yuan Snaps 3-Session Gains

April 2, 2026

The offshore yuan weakened to around 6.88 per dollar, ending a three-day winning streak as the greenback gained strength amid mounting uncertainties over a possible easing of the Middle East conflict. The US dollar rose as investors pared back expectations for Federal Reserve rate cuts, amid concerns that a surge in oil prices driven by the conflict could stoke rising inflation.

During his speech, Trump said the war in Iran was “very close” to completion and likely to meet its objectives in the coming weeks, while warning that military operations could intensify. Meanwhile, the PBoC drained CNY 890 billion through short-term operations and absorbed another CNY 250 billion via longer-term tools, reversing months of liquidity support after the economy’s deepest slowdown since reopening from Covid lockdowns in 2022. With growth rebounding and oil prices elevated by the Iran war, the central bank appears focused on curbing inflation while gradually steering China out of record deflation.

Rupee Falls on Outflows, Trump Speech

April 2, 2026

The Indian rupee edged down to around 93.2 per dollar, extending gains for another session amid persistent capital outflows and heightened geopolitical tensions. The currency has been under pressure from spillovers of the Iran war, prompting the Reserve Bank of India to step up measures against arbitrage and forward contract manipulation.

After an earlier crackdown on banks failed to ease volatility, corporates were barred from rebooking cancelled foreign exchange contracts, and derivative trades with related parties were restricted. Analysts noted that while these measures aim to curb speculative activity, the rupee remains vulnerable as oil prices stay elevated and capital inflows remain limited. Adding to the downward pressure, President Donald Trump’s 20-minute prime-time address said the US is “very close” to completing its military objectives in Iran, while warning of potential escalation.

WTI rallies back closer to $99.00 as Trump’s comments dampen Iran de-escalation hopes

April 2, 2026
  • WTI stages a solid recovery from a one-week low, touched on Wednesday.
  • Trump’s remarks temper de-escalation hope and boost the commodity.
  • Reviving Fed rate hike bets underpin the USD, which might cap Oil prices.

West Texas Intermediate (WTI) Crude Oil prices catch aggressive bids during the Asian session on Thursday and surge past the $97.00 mark as US President Donald Trump’s prime-time address gets underway. The commodity now seems to have snapped a two-day losing streak to a one-week low, around mid-$92.00s, touched the previous day.

Trump reiterated the 2-3 week timeline and also threatened to hit Iran’s energy infrastructure if no deal is reached. This comes on top of the Wall Street Journal’s report on Tuesday that the United Arab Emirates (UAE) is pushing for military action to reopen the Strait of Hormuz and is lobbying for a UN Security Council resolution to authorize such an operation.

Moreover, the US is heavily reinforcing the Middle East with thousands of troops, marking the largest military buildup in two decades. This raises the risk of a further escalation of ongoing conflicts in the world’s premier oil-producing region and backs the case for a further appreciating move for the black liquid, back closer to a multi-week top set on Tuesday.

Meanwhile, the latest leg up in revives inflationary concerns, bolstering bets for an interest rate hike by the US Federal Reserve (Fed). Apart from this, a fresh wave of the global risk-aversion trade benefits the US Dollar’s (USD) status as the global reserve currency, which tends to undermine USD-denominated commodities, and might keep a lid on Crude Oil prices.

AUD slips despite February Trade Surplus more than doubles

April 2, 2026
  • Australian Dollar weakens despite Trade Surplus more than doubling in February.
  • Australia’s Trade Surplus widened to AUD 5,686 million from a revised AUD 2,258 million previously.
  • President Trump signaled that the US intends to conclude the Iran conflict quickly.

AUD/USD depreciates after two days of gains, trading around 0.6900 during the Asian hours on Thursday. The pair weakens as the Australian Dollar (AUD) comes under pressure despite robust trade data, with Australia’s Trade Surplus more than doubling in February to its highest level in seven months, supported by strong gains in gold and agricultural exports, while imports of gold and data processing equipment declined.

Australia’s Trade Surplus expanded to AUD 5,686 million in February from a downwardly revised AUD 2,258 million in the previous month, significantly exceeding market expectations of an AUD 2,500 million surplus and marking the largest surplus since July 2025.

Exports increased 4.9% month-over-month (MoM) to a four-month high, rebounding from a revised 1.6% decline in the prior month. Meanwhile, imports fell 3.2% MoM to a seven-month low, reversing a revised 1.1% increase in January, reflecting softer domestic demand and ongoing uncertainty in global trade flows amid geopolitical tensions.

The AUD/USD pair also faces downside pressure as the US Dollar (USD) strengthens, even as safe-haven demand fades amid rising optimism over Middle East peace. US President Donald Trump stated on Thursday that Iran’s military capabilities have been significantly weakened, noting that its missile and drone capacity has been curtailed.

Trump added that the US no longer relies on Middle Eastern oil and emphasized that Iran’s naval and air forces have been severely diminished, with leadership losses further reducing its operational strength, while signaling that the US intends to conclude the conflict swiftly.

JPY softens after Trump Iran war remarks

April 2, 2026
  • USD/JPY edges higher to around 159.20 in Thursday’s Asian session. 
  • Trump said his core “objectives are nearing completion” in Iran. 
  • Japan’s Mimura said authorities may take a ‘decisive’ step if speculative moves persist. 

The USD/JPY pair gains momentum to near 159.20 during the Asian trading hours on Thursday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) following US President Donald Trump’s speech from the White House. 

Trump said on Thursday that the US is “systemically dismantling the regime’s ability to threaten America or project power outside of their borders.” He added that Iran’s ability to launch missiles and drones has been curtailed.

A White House official stated that the US President will focus on the operation having met or exceeded all of its benchmarks, including destroying Iran’s ballistic missiles and production facilities. Uncertainty surrounding the US-Iran ceasefire and persistent tensions in the Middle East continue to boost the Greenback in the near term. 

Fears that Japanese authorities would step in to support the domestic currency could help limit the JPY’s losses. Japan’s top currency diplomat, Atsushi Mimura, said on Monday that officials may need to take “decisive” steps if speculative moves persist in the currency market.

“We are hearing that speculative moves are increasing in the currency market, in addition to the crude futures market. If this situation continues, it may be time to take decisive measures,” said Mimura. 

GBP weakens as USD rallies after Trump’s address to the nation

April 2, 2026
  • GBP/USD attracts heavy selling as Trump’s comments dampen de-escalation hopes and boost USD.
  • Rallying Crude Oil prices revive inflation fears and bolster Fed rate hike bets, further lifting the USD.
  • Economic concerns stemming from the Iran war undermine the GBP and also weigh on spot prices.

The GBP/USD pair meets fresh supply during the Asian session on Thursday. It retreats further from the weekly high, which was around the 1.3345 area touched the previous day. Spot prices decline to the mid-1.3200s after US President Donald Trump’s comments. These comments stall a two-day recovery move from a four-month low set on Tuesday.

Addressing the nation, Trump reiterated the 2-3 week deadline. He also threatened to hit Iran’s energy infrastructure if no deal is reached. Trump added that negotiations with Iran are going well. However, Tehran quickly rejected the claim. Additionally, reports say the United Arab Emirates (UAE) is pushing for military action to reopen the Strait of Hormuz. This fuels worries about more tension in the Middle East.

The latest developments trigger a sharp rally in Crude Oil prices, reviving inflation fears and bolstering bets for a rate hike by the US Federal Reserve (Fed). Adding to this, a fresh wave of the global risk-aversion trade assists the safe-haven US Dollar (USD) to regain positive traction following a two-day corrective slide from the year-to-date. This, in turn, is seen as a key factor exerting downward pressure on the GBP/USD pair.

Meanwhile, the UK economy is highly vulnerable to energy price shocks linked to the Iran war. Furthermore, the Bank of England’s (BoE) hawkish signal about a potential interest rate hike as early as April amid inflation fears raises downside risks to the economy. This further undermines the British Pound (GBP) and backs the case for the resumption of the GBP/USD pair’s recent decline witnessed over the past two months or so.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.29%0.37%0.30%0.13%0.59%0.52%0.28%
EUR-0.29%0.08%-0.02%-0.18%0.30%0.24%-0.02%
GBP-0.37%-0.08%-0.06%-0.24%0.22%0.16%-0.10%
JPY-0.30%0.02%0.06%-0.16%0.29%0.22%-0.02%
CAD-0.13%0.18%0.24%0.16%0.44%0.37%0.13%
AUD-0.59%-0.30%-0.22%-0.29%-0.44%-0.06%-0.34%
NZD-0.52%-0.24%-0.16%-0.22%-0.37%0.06%-0.26%
CHF-0.28%0.02%0.10%0.02%-0.13%0.34%0.26%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).