EUR/USD Technical Analysis April 2, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 2, 2025, the EUR/USD pair is trading around 1.0792.
Relative Strength Index (RSI): The RSI is in neutral territory, suggesting neither overbought nor oversold conditions.
Moving Averages:
Short-term (20-period): The pair is trading near the 20-period moving average, indicating a lack of strong short-term momentum.
Long-term (200-period): The price remains above the 200-period moving average, suggesting a prevailing bullish trend.
Support and Resistance Levels:
Support:
1.0777: A recent low that could provide immediate support.
1.0730: A more significant support level observed in recent trading sessions.
Resistance:
1.0810–1.0815: A zone where selling pressure has previously emerged.
1.0850: Minor resistance noted in prior analyses.
Fundamental Factors:
U.S. Tariffs Announcement: President Donald Trump is set to announce new tariffs on April 2, termed “Liberation Day.” These tariffs, potentially including a 25% levy on auto imports, are expected to take effect immediately. The uncertainty surrounding these measures has heightened market volatility and could impact the USD.
Eurozone Inflation and Unemployment: Recent data indicates that Eurozone inflation has decreased to 2.2% in March, nearing the European Central Bank’s target. Concurrently, the unemployment rate has fallen to a record low of 6.1%. These factors may influence the ECB’s monetary policy decisions, potentially affecting the EUR.
Conclusion:
The EUR/USD pair is currently trading in a narrow range, with key support at 1.0777 and resistance around 1.0810–1.0815. Traders should monitor the upcoming U.S. tariffs announcement and Eurozone economic indicators, as these events could significantly influence the pair’s direction.
GBP/USD Technical Analysis April 2, 2025