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 New

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, while the daily chart shows a third consecutive day of gains. Although the RSI remains in neutral territory, the price has turned upward. On the weekly chart, the price has touched the 10-period MA and is entering another uptrend.

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 providing support, and on the daily chart, it has broken through the support line formed by the 10-period MA and is currently falling.On the weekly chart, the price has encountered resistance at the trend line connecting the highs since early this year, and the upside is becoming increasingly heavy.

Today’s economic indicators include Japan’s net 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.

Past Market Reports

1. 23.04.2026New

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

2. 22.04.2026New

   The euro faces resistance at higher levels; the market may be waiting to see if there is room for a rebound

3. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

4. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

5. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

6. 16.04.2026

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

7. 15.04.2026

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

8. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

9. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

10. 10.04.2026

    Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?