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AUD/USD Wobbles around 0.6900 ahead of Iran’s response to Trump’s ultimatum

  • AUD/USD trades with caution around 0.6900 ahead of Trump’s Iran deadline.
  • US President Trump threatened to destroy Iran’s civilian infrastructure if it doesn’t reopen the Hormuz.
  • Investors await the US FOMC minutes and the CPI data.

The AUD/USD pair trades in a tight range around 0.6900 during the early European trading session on Tuesday. The Aussie pair consolidates as investors await Tehran’s response to United States (US) President Donald Trump’s warning to destroy Iranian power plants and bridges if it doesn’t reopen the Strait of Hormuz by Tuesday, 08:00 PM ET.

Market sentiment remains cautious, with the S&P 500 futures trading 0.5% down during the press time. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades marginally higher around 100.10.

Ahead of the deadline, statements from Iranian officials indicate that the nation is unlikely to reopen the Hormuz, a scenario that could mark an escalation in the ongoing war. An advisor to Iran’s Parliament Speaker Mohammad Bagher Ghalibaf stated that “Trump has about 20 hours to either surrender to Iran, or his allies will return to the Paleolithic Age”.

On the domestic front, investors await the US Federal Open Market Committee (FOMC) minutes of the March policy meeting, which will be released on Wednesday. This week, the major highlight will be the US Consumer Price Index (CPI) data for March, which is scheduled for Friday.

AUD/USD technical analysis

AUD/USD trades cautiously at around 0.6910 as of writing. The near-term bias is mildly bearish as spot holds below the 20-day exponential moving average, which has started to roll over and cap bounces in the 0.6960 area. Price action shows a sequence of lower closes from the 0.71 region, while the RSI has slipped below the 50 line and stabilizes in the low-40s, confirming building downside momentum rather than oversold conditions.

Initial resistance emerges at the 20-day EMA near 0.6960, with a break above exposing the March 23 high around 0.7060 as the next barrier. On the downside, immediate support stands at 0.6880, guarding the recent trough at 0.6835. A daily close below 0.6835 would extend the bearish phase toward the 0.6800 handle, while recovery above 0.6960 would ease selling pressure and open a corrective phase within the broader range.

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USD/INR edges lower at open ahead of Trump’s Iran deadline

  • The Indian Rupee trades marginally higher against the US Dollar in the opening trade.
  • Investors await Iran’s final decision on Trump’s deadline at 08:00 PM ET, 05:30 AM IST on Wednesday.
  • The RBI is expected to maintain the status quo on Wednesday.

The Indian Rupee (INR) ticks up against the US Dollar (USD) in the opening trade on Tuesday. The USD/INR pair edges down to near 93.00, while it is expected to remain range bound as investors stay on sidelines ahead of United States (US) President Donald Trump’s ultimatum to Iran either to reopen the Strait of Hormuz or face brutal consequences whose deadline is Tuesday, April 7, 08:00 PM Eastern Time (ET), which will be 05:30 AM IST on Wednesday.

Trump threatens hell if Iran misses deadline

Over the weekend, US President Trump warned, through a post on Truth.Social, that Washington will bomb Iranian power plants and bridges, if it doesn’t reopen the Strait of Hormuz before the deadline.

Meanwhile, comments from Iran signal that it won’t back down, as it threatened reciprocal attacks on the regional US infrastructure and its allies. An advisor to Iran’s Parliament Speaker Mohammad Bagher Ghalibaf stated that “Trump has about 20 hours to either surrender to Iran, or his allies will return to the Paleolithic Age”.

Market participants worry that a fresh escalation in the ongoing war would boost oil prices, a scenario that is unfavorable for the Indian Rupee, being the currency of a nation that caters its 88%-89% of its domestic energy needs through oil imports.

The ongoing tensions in the Middle East have dampened the interest of foreign investors in the Indian stock market. Foreign Institutional Investors (FIIs) continue to dump their stake in the Indian equity market, and have offloaded their stake worth Rs. 26,429.45 crore in the three trading days of April gone by.

Investors await RBI’s policy decision and FOMC minutes

On the domestic front, the next major trigger for the Indian Rupee will be the Reserve Bank of India’s (RBI) monetary policy announcement on Wednesday. The RBI is expected to leave its Repo Rate unchanged at 5.25%, as higher energy prices have prompted inflation expectations globally.

As the RBI is highly anticipated to maintain the status quo, investors will pay close attention to comments from the Indian central bank regarding the outlook of inflation, economic growth and key borrowing rates.

In the US, the Federal Open Market Committee (FOMC) minutes of the March policy meeting will be published on late Wednesday. In the policy meeting, the Fed decided to leave interest rates unchanged in the range of 3.50%-3.75% and stated that “higher energy prices will push up inflation in the near term”.

Technical Analysis: USD/INR turns range bound as RSI sifts into 40.00-60.00 zone

USD/INR edges down to near 93.00 in the opening trade on Tuesday. The near-term bias appears neutral as the pair trades close to the 20-day Exponential Moving Average (EMA), which is at 92.95, capping rebounds. The overall trend remains bullish as the higher highs and higher lows structure has not broken yet.

The 14-day Relative Strength Index (RSI) shifts into the 40.00-60.00 zone from the bullish territory above 60.00, signifying that momentum has cooled down, but the bullish bias remains intact.

Initial support emerges at the March 9 high of 92.35, with a daily close below this level opening the room toward the March 5 low of 91.35. On the topside, immediate resistance stands at the April 2 high of 93.66; a break above that level would reassert the bullish trend, which will improve the odds of the price reclaiming the all-time high of 95.22.

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

  • 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.

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

  • 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.

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GBP/USD climbs above 1.3240 as Iran hopes dent US Dollar

  • GBP/USD rises as ceasefire speculation weighs on the US Dollar.
  • Softer US services data added pressure on the Greenback.
  • Traders now await US inflation, jobless claims and Fed minutes.

The British Pound (GBP) advances by over 0.40% on Monday as US President Donald Trump said the Tuesday deadline he has set for Iran to make a deal is final, while rumors of a possible de-escalation weighed on the US Dollar (USD). GBP/USD trades around the 1.3240 figure at the time of writing.

Sterling gains as ceasefire rumors lift mood, soften Greenback

Risk appetite improved on Monday after Axios reported that US and Israeli officials, along with regional mediators, are discussing a 45-day ceasefire that could be extended if needed. Investors cheered the news, as depicted by US equities posting gains of 0.15% to 0.52%.

Data from the US showed that business activity deteriorated, according to the Institute for Supply Management (ISM), as the Services PMI in March slipped from 56.1 to 54, below economists’ forecasts of 55. The Prices Paid sub-component of the PMI rose to its highest level since October 2022, coming at 70.7, sparked by the rise of oil and fuel costs, commented Steve Miller, the Chair of the ISM’s Services Business Survey Committee.

Last week, strong US jobs data posted the largest job gains in 15 months and a dip in the Unemployment Rate. Nonfarm Payrolls rose by 178K in March, exceeding estimates of 60K. Meanwhile, the Unemployment Rate fell to 4.3% from 4.4% in February.

Consequently, expectations that the Federal Reserve (Fed) will cut rates are none, according to data from Prime Market Terminal, which reflects that the Fed funds rate will remain in the 3.50%-3.75% range, steady in 2026.

Fed interest rate probabilities

Source: Prime Market Terminal

Traders’ eyes will be on the release of US inflation figures, jobless claims, and the Federal Reserve’s last meeting minutes.

GBP/USD Price Forecast: Technical Outlook

Chart Analysis GBP/USD

In the daily chart, GBP/USD trades at 1.3239. The near-term bias is mildly bearish as spot holds below the downward-sloping resistance trend line from 1.3869 and trades under the clustered simple moving averages near 1.3500, which now cap the upside. The persistent rejection along that descending line, combined with price pressure below the 50–100–200-day group, signals sellers retaining control, even as the longer-term rising support trend line from 1.3035 still prevents a steeper breakdown.

Initial resistance is now at 1.3320, where recent rebounds have stalled beneath the descending trend line, followed by 1.3435 and the moving-average zone around 1.35. A daily close above that 1.35 area would be needed to dilute the current bearish tone and reopen 1.3600. On the downside, immediate support is seen at 1.3187, with 1.3130 and the rising trend line from 1.3035 below; a clean break under that trend support would confirm a deeper bearish extension toward 1.3050.

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

Pound Sterling Price Today

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

USDEURGBPJPYCADAUDNZDCHF
USD-0.23%-0.28%0.02%-0.22%-0.33%-0.45%-0.25%
EUR0.23%-0.03%0.24%0.00%-0.13%-0.25%-0.05%
GBP0.28%0.03%0.25%0.00%-0.09%-0.22%0.00%
JPY-0.02%-0.24%-0.25%-0.23%-0.36%-0.49%-0.28%
CAD0.22%-0.00%-0.01%0.23%-0.10%-0.23%-0.02%
AUD0.33%0.13%0.09%0.36%0.10%-0.14%0.09%
NZD0.45%0.25%0.22%0.49%0.23%0.14%0.23%
CHF0.25%0.05%-0.01%0.28%0.02%-0.09%-0.23%

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 British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

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GBP/JPY Price Analysis – Pound recovery hits resistance at 211.45

  • GBP/JPY picks up on risk appetite but remains capped below 211.45.
  • Hopes of a peace deal in Iran have triggered a moderate sentiment improvement.
  • Yen downside attempts remain limited, as intervention risks loom.

The Pound (GBP) is trading higher against the Japanese Yen (JPY) on Monday, favoured by a moderate optimism amid news of a peace plan to end the war in Iran. The pair, however, remains capped below the 211.45 resistance area so far, although technical indicators are popping up into bullish territory.

News that  Iran and the US have received the framework of a plan for a 45-day ceasefire that might end the hostilities immediately and reopen the Strait of Hormuz has been welcomed by the market. Investors have responded by selling safe-haven assets like the US Dollar for the benefit of riskier-perceived assets like the Pound.

Nevertheless, traders are wary of placing significant Yen shorts. The USD/JPY remains relatively close to 160.00 a level which, according to market speculation, might unleash an intervention by Tokyo authorities to stem undesired JPY weakness.

Chart Analysis GBP/JPY

GBP/JPY shows a mildly bullish trend, after bouncing at 209.64 lows in late March, with the highest lows posted last week. A bullish engulfing candle in the daily chart might strengthen the case of a deeper correction if the pair closes the day beyond 211.45.

Technical indicators in the 4-hour chart show an improved momentum, with the Relative Strength Index (RSI) stabilizing just above the 50 mark and the Moving Average Convergence Divergence (MACD) line remaining in positive territory.

Price action suggests that we might be in the C-D leg of a Gartley pattern, targeting beyond the mentioned 211.45 resistance area to the area between the March 24 and 27 lows, at 212.30, and the 78.2% Fibonacci retracement of the late-March sell-off, at 212.55.

To the downside, immediate support is the April 2 low, at 210.35, ahead of the mentioned March 31 low, at 209.64.

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

  • 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).

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

  • 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.