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The euro has broken below a key level; tonight’s preliminary PMI figures may reveal just how far it will fall.

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The euro has broken below a key level; tonight’s preliminary PMI figures may reveal just how far it will fall.

23.04.2026

Today's Highlights
  1. European Manufacturing/Services PMI
  2. U.S. Initial Unemployment Insurance Claims

In yesterday’s dollar trading, the U.S. dollar rose against the yen. The USD/JPY pair rose slightly from 159.103 to 159.573. It moved from below the 20-period moving average (MA) on the hourly chart to above it.On the 4-hour chart, the pair is gradually trending upward, supported on the downside by the 20-period moving average (MA), and on the daily chart, it has risen for three consecutive days. Although the RSI remains in neutral territory, the price has trended higher. On the weekly chart, the pair has entered another uptrend after touching the 10-period MA.

Among European currencies, the euro fell against the U.S. dollar. The euro/dollar pair dropped from 1.1762 to 1.1703. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it.On the 4-hour chart, the price has broken below the 75-period moving average (MA) line—which had been acting as support—with a real-body candle. On the daily chart, the price has broken through the support line formed by the 10-period MA and is currently falling. On the weekly chart, the price has rebounded off the trend line connecting the highs since early this year, and resistance at the upper end is becoming stronger.

Today’s economic indicators include Japan’s foreign and domestic securities investment at 8:50, the UK’s net public sector debt at 15:00, Germany’s manufacturing and non-manufacturing PMIs at 16:30, the Eurozone’s manufacturing and services PMIs at 17:00, and the UK’sManufacturing/Services PMI, at 17:30 UK, US Initial Jobless Claims and Chicago Fed National Activity Index, and Canada Industrial Product Prices; at 21:30 US PMI Purchasing Managers’ Index (flash estimate);at 24:00, remarks by German Bundesbank President Nagel; and at 26:00, a U.S. 5-year inflation-indexed bond auction. We will be watching for further downside potential in the euro against the U.S. dollar.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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