EUR/USD Drifted Down To 1.1665/1635 Key Support For Potential Bullish Reversal
2026-04-24·via All Articles on Seeking Alpha
Summary
Pullback driven by geopolitical risk and USD strength: EUR/USD declined ~1.5% from its recent high as stalled US-Iran talks and rising oil prices boosted safe haven demand for the US dollar.
Macro backdrop turning supportive for euro: A steepening Eurozone-US rate differential suggests a relatively less dovish ECB versus the Fed, providing underlying support for EUR/USD.
Technical setup points to potential rebound: Price is testing key support at 1.1665/1.1635 with bullish signals (trend above major MAs, RSI divergence, ascending channel), indicating a possible reversal unless support breaks.
Yulia Y/iStock Editorial via Getty Images
By Kelvin Wong
The EUR/USD (EUR:USD) hit a recent two-month high of 1.1849 printed on last Friday, April 17, 2026, and turned soft due to the stalled second round of US-Iran peace talks, where it declined