The euro has broken below a key support level; tonight’s preliminary PMI figures may reveal the extent of the decline

The euro has broken below a key support level; tonight’s preliminary PMI figures may reveal the extent of the decline

23.04.2026

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. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price is gradually trending upward, supported by the 20-period MA on the downside, and on the daily chart, it has risen for three consecutive days. Although the RSI remains in neutral territory, the price has trended upward. On the weekly chart, the price has entered another uptrend after touching the 10-period MA.

Among European currencies, the euro fell against the U.S. dollar. The EUR/USD 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 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 heavy.

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, 21:30 US Initial Jobless Claims, US Chicago Fed National Activity Index, and Canada Industrial Product Prices; 22:45 US PMI Purchasing Managers' Index (Preliminary); 24:00 remarks by German Bundesbank President Nagel; and 26:00 US 5-year inflation-linked bond auction.We should keep an eye on the downside potential for the euro, which has fallen against the US dollar.