EUR/USD hits one-week highs beyond 1.1570 highs as sentiment brightens

April 7, 2026
  • EUR/USD pierces the range top at 1.1570 amid a brighter market mood.
  • Eurozone Services PMI has been revised slightly higher in March.
  • Investors hold their breath ahead of Trump’s deadline for destroying Iran.

The Euro (EUR) has brushed off previous weakness to extend its recovery against the US Dollar (USD) to reach fresh weekly highs above 1.1570 on Tuesday’s European morning session. The market sentiment has improved, with European equities turning positive after a negative opening, and Eurozone services activity revised up, which has provided some support for the common currency.

Eurozone HCOB Services Purchasing Managers’ Index (PMI) has been revised to 50.2 on Tuesday from the 50.1 preliminary reading, although it remains significantly below February’s 51.9 reading. Among country members, Spain’s services activity stands out with a 53.3 reading, although France’s services contracted for the third consecutive month, and Germany’s expansion was revised down to 50.9 from preliminary estimations of 51.2.

Investors’ appetite for risk remains limited as the US deadline to Iran draws closer. US President Donald Trump reiterated his threats on Monday, warning Tehran that the US could destroy a country tonight if the Strait of Hormuz is not reopened before Tuesday, at 8 PM Easter Time (00:00 GMT on Wednesday).

Previously, the US and Iran rejected the 45-day ceasefire proposal offered by Pakistan, and Tehran came out with an alternative plan, considered “significant” by Trump but not good enough.

Before that, the European Central Bank’s (ECB) Governing Council member, Dimitar Radev, affirmed that it is still “too early” to say whether the bank will hike rates in April, as they might need some data amid the elevated level of uncertainty.

Technical Analysis: Pushing against the range top

EUR/USD Chart Analysis

The EUR/USD has turned higher, with technical indicators in the 4-hour chart suggesting an incipient bullish momentum. The Relative Strength Index (RSI) nears 60 after having remained flat around the 50 level, and the Moving Average Convergence Divergence (MACD) histogram is popping up above zero, although the MACD line remains practically flat.

A confirmation above the near-term channel’s top, at the 1.1570 area, would expose the late March and early April highs, in the area between 1.1630 and 1.1640. Further up, the March 10 high, at 1.1667, emerges as a plausible target.

Immediate support emerges at the 1.1505 area, which held bears on April 2 and 6. A confirmation below here would expose the March 30 and 31 lows near 1.1440, ahead of the multi-month lows, at 1.1411 hit in mid-March.

EUR/GBP approaches 0.8700 lows following Eurozone and UK services data

April 7, 2026
  • Euro maintains a moderate near-term bias, with bears looking at the 0.8700 area.
  • Eurozone’s services activity for March has been revised up, yet at levels well below February’s.
  • UK services sector grew at its slowest pace of the last 11 months in March.

The Euro (EUR) extends losses against the British Pound (GBP) for the second consecutive day on Tuesday, approaching the bottom of its near-term horizontal range at 0.8700, from Monday’s highs at 0.8735.

The pair has been unfazed by the moderate upward revision of the Eurozone’s HCOB Services Purchasing Managers’ Index figures, which were revised up on Tuesday.

Mixed Eurozone services data

Business activity in the countries sharing the Euro expanded at a 50.2 pace, according to final estimations, an inch higher than the 50.1 preliminary reading but well below the 51.9 reading seen in February.

Spain’s services sector has been the main driver of the revision, with business activity rising to 53.3 from Flash estimates of 51.9. The numbers for the region’s stronger economies, however, have disappointed, as France’s sector contracted for the third consecutive month and Germany’s expansion was revised down to 50.9 from 51.2 preliminary estimation and 53.5 in February.

In the UK, the S&P Global Services PMI has also been revised down to 50.5 in March, its slowest growing pace in almost a year, from flash estimations of a 51.0 reading and 53.9 in February.

These figures reflect the strong economic impact of the war in Iran on the Eurozone and UK economies, the day when US President Donald Trump’s deadline on Tehran expires. Investors are holding their breath after Trump threatened to “demolish” Iran’s bridges and energy plants, refusing claims against war crimes

EUR/GBP steadies above 0.8700 amid ECB hawkish tone

April 7, 2026
  • EUR/GBP holds steady near 0.8720 in Tuesday’s early European session.
  • ECB hawkish tone could underpin the Euro against the Pound Sterling.
  • Bank of England is anticipated to hold rates this year, according to a Reuters poll.

The EUR/GBP cross trades on a flat note around 0.8720 during the early European session on Tuesday. Traders will take more cues from the Eurozone Retail Sales and German inflation data, which are due later this week. These reports could offer some cues about the European Central Bank (ECB) interest rate path this year.

Meanwhile, the Euro (EUR) could receive some support from the hawkish tone of the European Central Bank (ECB). ECB President Christine Lagarde emphasizied that policy will remain restrictive until inflation sustainably returns to the 2% target. 

Additionally, ECB policymaker Francois Villeroy de Galhau said last week that the central bank’s next interest rate move will very likely be an increase although it is still ‌too early to say when it will start hiking. Markets have priced in 2–3 interest rate hikes for 2026 due to surging energy-driven inflation, a significant shift from previous expectations of holding rates.

The Bank of England (BoE) has shifted from a bias toward cutting rates to a “wait-and-see” stance. The UK central bank is expected to hold Bank Rate at 3.75% for the rest of the year, according to a narrow majority of economists polled by Reuters who have mostly abandoned their previous expectations for cuts but have not followed financial markets in expecting nearly three rate rises this year.

EUR/JPY Holds steady but maintains bullish bias above 100-day EMA support

April 7, 2026
  • EUR/JPY trades on a flat note around 184.35 in Tuesday’s early European session. 
  • The cross keeps the positive vibe above the 100-day EMA, with bullish RSI momentum. 
  • The initial support level is seen at 183.70; the first upside barrier emerges at 185.80. 

The EUR/JPY cross holds steady near 184.35 during the early European session on Tuesday. However, the potential upside for the cross might be limited as ongoing tensions between the United States (US) and Iran could boost a safe-haven currency such as the Japanese Yen (JPY).

On the other hand, the hawkish tone of the European Central Bank (ECB) could underpin the Euro (EUR) against the JPY. Markets are now pricing in 2–3 interest rate hikes for 2026 due to surging energy-driven inflation, a significant shift from previous expectations of holding rates.

Chart Analysis EUR/JPY

Technical Analysis:

In the daily chart, the near-term bias of EUR/JPY is mildly bullish as price holds above the rising 100-day exponential moving average near 182.10 and continues to respect a sequence of higher closes over recent sessions. The pair also trades comfortably above the Bollinger middle band around 183.70, indicating that dips are being absorbed within an ongoing uptrend rather than signalling a reversal. RSI at 55.22 stays above its midline and trends higher, confirming positive momentum but without overbought conditions.

Initial support emerges at the Bollinger middle band around 183.70, followed by the psychological 183.00 area, while the 100-day EMA near 182.10 forms a deeper support level that underpins the broader bullish structure. On the topside, immediate resistance sits near the recent upper-Bollinger proximity around 185.80, with a sustained break opening room toward the 186.30 region. As long as EUR/JPY holds above 183.00 on a daily closing basis, the path of least resistance points to further tests of the 185.80–186.30 resistance band.

EUR/USD Price Forecast: Consolidates around 1.1530 in countdown to Trump’s deadline

April 7, 2026
  • EUR/USD edges lower to near 1.1530 while investors remain uncertain over Iran’s final decision to the US proposal.
  • Iran calls on US President Trump to surrender or his allies will return to the Paleolithic Age.
  • The US FOMC minutes of the March policy meeting will be released on Wednesday.

The EUR/USD pair ticks marginally lower around 1.1530 during the Asian trading session on Tuesday, but is broadly sideways, wobbling inside Monday’s trading range. The major currency pair consolidates while investors await Iran’s final decision on the ceasefire proposal by the United States (US), which has a deadline of Tuesday, 08:00 PM ET.

As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades slightly higher to near 100.10.

Ahead of US President Donald Trump’s deadline, an advisor to Iran’s Parliament Speaker Mohammad Bagher Ghalibaf has stated that Trump has about 20 hours to either surrender to Iran or his allies will return to the Paleolithic Age, emphasizing that Tehran will not back down. He called Trump’s threats “delusional” and added that they won’t make up for the “disgrace and humiliation” of the US in the region.

On the domestic front, investors await the release of the Federal Open Market Committee (FOMC) minutes of the March policy meeting, which will be released on Wednesday. In the meeting, the Fed left interest rates unchanged in the range of 3.50%-3.75%.

EUR/USD technical analysis

EUR/USD edges down to near 1.1530 in the opening trade on Tuesday. Price sits marginally below the 20-day Exponential Moving Average (EMA) near 1.1560, keeping the short-term tone mildly bearish as the pair struggles to reclaim that dynamic cap.

The 14-day Relative Strength Index (RSI) hovers in the mid-40s, showing negative but not extreme momentum, consistent with a market leaning lower inside a broader consolidation. A downward-sloping resistance trend line from around 1.1660 continues to limit rebounds, while the recent sequence of lower closes under that line confirms sellers retain the near-term advantage.

Initial resistance is now located at the 20-day EMA around 1.1560, with a break above exposing the descending trend-line barrier near 1.1600 and then the March 10 high at 1.1666. On the downside, the rising support trend line coming from the 1.1410 region underpins the market around 1.1470, with a daily close below that level opening the way toward 1.1410 as the next support. As long as the pair trades below 1.1600, rallies are likely to meet selling interest, keeping focus on whether the 1.1470–1.1410 support band can contain the current bearish pressure.

EUR/GBP – Supported by converging SMAs but capped below 0.8750

April 6, 2026
  • EUR/GBP edges lower as diplomatic efforts to end the US–Iran war lift sentiment and support risk-sensitive currencies.
  • GBP shows relative strength against the Euro, keeping the cross under pressure near recent highs.
  • Technically, EUR/GBP maintains a mildly bullish bias while holding above key moving averages, with RSI and MACD in positive territory.

EUR/GBP trades with a negative bias on Monday as diplomatic efforts to end the US-Iran war lift market sentiment and support risk-sensitive currencies, with the British Pound (GBP) relatively outperforming the Euro (EUR).

At the time of writing, the cross is trading around 0.8720, though it lacks strong follow-through selling and remains confined near the upper end of last week’s range.

According to Axios, the United States and Iran, along with regional mediators, are discussing a potential 45-day ceasefire that could help end the war. Separately, Reuters reported that both sides have received a proposal for a two-step deal, starting with a ceasefire followed by broader negotiations, which could come into effect as early as Monday and include reopening the Strait of Hormuz.

From a technical perspective, EUR/GBP shows a mildly bullish near-term bias as spot holds just above the flat 50-day Simple Moving Average (SMA) near 0.8686, while the 100-day SMA around 0.8709 and the 200-day SMA near 0.8701 converge just below current levels, forming a tentative support cluster that could cap downside attempts.

The Relative Strength Index (RSI) at 59 signals firm but not stretched upside momentum, consistent with a grind higher rather than a sharp breakout. The Moving Average Convergence Divergence (MACD) line stands above the Signal line in marginally positive territory, and the modestly positive histogram reinforces a controlled bullish tone rather than an aggressive trend.

On the upside, immediate resistance is seen at 0.8750, and a break above this level would strengthen the bullish case, opening the door toward the March swing high at 0.8789, close to the 0.8800 psychological mark.

On the downside, initial support is seen in the 0.8686-0.8708 moving average cluster. A break below this zone could weaken the near-term structure and expose the 0.8650 level, with further downside opening toward the 0.8600 psychological mark.

Euro Price Today

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

USDEURGBPJPYCADAUDNZDCHF
USD-0.32%-0.38%-0.14%-0.27%-0.48%-0.51%-0.33%
EUR0.32%-0.04%0.15%0.05%-0.17%-0.21%-0.03%
GBP0.38%0.04%0.19%0.07%-0.12%-0.18%0.03%
JPY0.14%-0.15%-0.19%-0.11%-0.34%-0.39%-0.20%
CAD0.27%-0.05%-0.07%0.11%-0.20%-0.24%-0.06%
AUD0.48%0.17%0.12%0.34%0.20%-0.06%0.15%
NZD0.51%0.21%0.18%0.39%0.24%0.06%0.21%
CHF0.33%0.03%-0.03%0.20%0.06%-0.15%-0.21%

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).

EUR/USD Price – Symmetrical Triangle formation near bottom triggers reversal hopes

April 6, 2026
  • EUR/USD rises to near 1.1560 as Iran’s confirmation of receiving the US ceasefire proposal has improved the market mood.
  • The USD Index slides below 100.00 as its safe-haven demand diminishes.
  • Iran clarifies that it won’t reopen Hormuz in exchange of temporary ceasefire.

The EUR/USD pair trades 0.4% higher to near 1.1560 during the European trading session on Monday. The major currency pair strengthens as market sentiment turns favorable toward riskier assets, such as the Euro (EUR), following confirmation from Iran that it has received the United States’ (US) ceasefire proposal through Pakistan.

An improvement in investors’ risk appetite has diminished the safe-haven demand of the US Dollar (USD). During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is down almost 0.4% to near 99.80. The USD Index was steady above 100.00 in the Asian trade.

US Dollar Price Today

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

USDEURGBPJPYCADAUDNZDCHF
USD-0.34%-0.38%-0.16%-0.19%-0.48%-0.53%-0.31%
EUR0.34%-0.02%0.15%0.16%-0.16%-0.18%0.00%
GBP0.38%0.02%0.17%0.15%-0.12%-0.18%0.05%
JPY0.16%-0.15%-0.17%-0.01%-0.32%-0.38%-0.16%
CAD0.19%-0.16%-0.15%0.00%-0.28%-0.35%-0.12%
AUD0.48%0.16%0.12%0.32%0.28%-0.07%0.17%
NZD0.53%0.18%0.18%0.38%0.35%0.07%0.24%
CHF0.31%-0.01%-0.05%0.16%0.12%-0.17%-0.24%

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).

Though Iran has acknowledged the receipt of the ceasefire proposal, it has clarified that there will be no acceptance of the proposal under pressure or deadlines. Tehran has also stated that it will not reopen the Strait of Hormuz, a passage to 20% of global oil supply, in exchange for a ‘temporary ceasefire’.

On the macro front, investors await the US ISM Services PMI data for March, which will be published at 14:00 GMT. The Services PMI is expected to arrive at 55.0, lower than the previous reading of 56.1.

This week, major highlights will be the US Federal Open Market Committee (FOMC) minutes of the March policy meeting and the Consumer Price Index (CPI) data for March, which will be released on Wednesday and Friday, respectively.

EUR/USD technical analysis

EUR/USD trades higher at around 1.1560 at the press time. The pair sits just below the 20-day Exponential Moving Average (EMA) near 1.1570, keeping a mild bearish bias in place while price remains capped beneath this dynamic barrier. A symmetrical triangle formation on the bottom level suggests that the broader trend has turned sideways, and a bullish reversal could be around the corner.

The 14-day Relative Strength Index (RSI) range shift move into the 40.00-60.00 zone from territory below 40.00 signifies cooling upside momentum, with bullish bias remaining in place.

Initial resistance emerges at the 20-day EMA around 1.1570, followed by the descending trend-line region near 1.1600, where repeated failures have formed a tight cap on the upside. A close above that zone would weaken the bearish stance and open the way toward 1.1660. On the downside, immediate support is located at the rising trend line from 1.1408, now intersecting around 1.1500, with a break there exposing the late-1.14 area as the next bearish target. A sustained move below 1.1450 would confirm a deeper downside extension within the prevailing daily downtrend towards the March low at 1.1411.

EUR/GBP eases to levels near 0.8700 amid mild risk-off markets

April 6, 2026
  • EUR/GBP retreats towards 0.8700 but remains within the previous days’ ranges.
  • The Euro remains near one-month highs after rallying more thn 1% over the last three weeks.
  • ECB-BoE monetary policy divergence is keeping EUR/GBP’s downside attempts limited.

The Euro (EUR) is trading lower against the British Pound (GBP) on a calm week opening, with most markets closed on Easter Monday, and markets wary of risk, amid greater concerns about an escalation of the war in Iran. The pair is trading at 0.8720 at the time of writing, down from session highs at 0.8735, yet still within the last few days’ trading range.

Investors are holding their breath following fresh threats by US President Donald Trump to destroy Iran’s bridges and energy plants if Tehran does not open the Strait of Hormuz before Tuesday at 8 PM.

Earlier in the day, however, a report by Axios suggested that a group of regional mediators is negotiating a 45-day ceasefire that could lead to a peace deal. This has contributed to easing risk aversion somewhat, but Trump’s mixed messages on the war are keeping traders on edge.

ECB-BoE monetary divergence

From a wider perspective, the pair is consolidating near one-month highs, as the Euro has shown greater resilience than the Pound amid the month-long war in the Middle East. The higher inflationary pressures have prompted European Central Bank (ECB) policymakers to suggest that a rate hike is coming, while BoE Governor Andrew Bailey played down the chances of any near-term monetary tightening.

In the calendar on Monday, the main focus will be on the Eurozone Sentix Investor Confidence index, which is likely to show the impact of the Iran war and the energy shock on institutional investors’ confidence. This reading is unlikely to provide any significant support to the common currency.