Should we keep an eye on the upside for European currencies, which have risen against the U.S. dollar?

Should we keep an eye on the upside for European currencies, which have risen against the U.S. dollar?

08.04.2026

In the previous day's U.S. currency trading, the U.S. dollar hit its lowest point toward the end of the U.S. trading session.The EUR/USD pair rose from 1.1523 to 1.1604. The 200-period simple moving average (SMA) on the hourly chart acted as a support level, triggering a price rebound. On the 4-hour chart, the price has broken significantly above the 200-period SMA that had been acting as resistance, and on the daily chart, it has moved from below the 20-period moving average to above it. Furthermore, during today’s Asian session, the U.S. dollar weakened further, pushing the pair up to around 1.1693.

Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair climbed from 1.3211 to 1.3299. It rebounded from the -2σ to the +2σ levels of the hourly Bollinger Bands. On the 4-hour chart, the RSI rose from 50 to 70. On the daily chart, the pair rebounded, avoiding a new year-to-date low. Furthermore, the pound rose further during today’s Asian trading session, recovering to levels near last month’s high.

Today’s economic indicators include Japan’s Monthly Labor Survey at 8:30, Japan’s Balance of Payments at 8:50, the RBNZ policy rate and statement at 11:00 (NZ time), Japan’s Tankan Survey at 14:00, Germany’s Manufacturing New Orders at 15:00, the UK Construction PMI at 17:30, and Eurozone Retail Sales at 18:00,EU Producer Price Index (PPI), 8:00 PM: US MBA Mortgage Applications Index, 11:30 PM: US Weekly Crude Oil Inventories, 2:00 AM: US 10-Year Treasury Auction, 3:00 AM: Release of US FOMC Minutes, and 3:35 AM: Remarks by US Federal Reserve Governor Waller. We will be watching the upside potential of European currencies that have risen against the US dollar.