The technical picture has turned "decidedly optimistic" as EUR/USD has reclaimed its 50, 100, and 200-day Moving Averages (MAs).Momentum oscillators on the H4 chart, with RSI at 70.5, suggest the move is overextended.Bulls must secure an hourly close above the 1.1800 psychological level to maintain control.If the pair fails at 1.1800 and slips below the intraday pivot at 1.1780, it could lead to a correction toward the 1.1750 zone.Most Read: Silver (XAG/USD) at a Crossroads: Bullish breakout meets overbought momentumEUR/USD finds itself at another crossroad after recent developments have seen the pair test a multi year pivot level of 1.1450. Since then EUR/USD has attempted to grind its way higher but further upside is facing a few hurdles.Daily Chart: Structural Shift Underway Looking at the daily timeframe, the technical picture has shifted from cautiously bearish to decidedly optimistic. After finding significant demand at the Multi-Year Pivot near 1.1450, the pair has embarked on a sustained rally.The most significant development on the daily chart is the price action surrounding the MA cluster. EUR/USD has managed to reclaim the 50, 100, and 200-day Moving Averages (MAs), which are currently converging around the 1.1670 - 1.1690 zone (highlighted by the red box). This area now shifts from a major resistance ceiling to a foundational support floor.With the RSI currently at 64.4, there is still space before reaching extreme overbought conditions, suggesting that the path of least resistance remains to the upside toward the 1.1867 resistance level.EUR/USD Daily Chart, April 15, 2026 Source:TradingView.com H4 Chart: Momentum Oscillators Hint at Exhaustion On the H4 timeframe, the "Golden Cross" and the steep ascending slope of the 50 MA (purple line) underscore the strength of the recent move. The pair recently sliced through the 1.1721 and 1.1769 horizontal hurdles with relative ease.However, a note of caution is warranted. The RSI on the H4 is currently printing at 70.5, having recently flagged several "BEAR" pivot warnings. This indicates that while the trend is bullish, the move is becoming overextended in the short term.We often see a period of consolidation or a "retest" of previous breakout levels when the H4 RSI hits these extremes, which could see the pair gravitate back toward 1.1769 before the next leg higher.EUR/USD Four-Hour Chart, April 15, 2026 Source:TradingView.com H1 Chart: European Session Scenarios The hourly chart provides a clear roadmap for the day ahead. Price action is currently consolidating just below the 1.1800 handle, which will be the primary battleground for the European session.The Bullish ScenarioFor the bulls to maintain control, we need to see a clean hourly close above the 1.1800 psychological level. If buying pressure persists, the next logical target is the 1.1867 area. Traders should watch for a "bull flag" formation on the H1; as long as the pair holds above the 1.1769 support, the intraday bias remains firmly long.The Bearish ScenarioThe bearish case relies on the RSI divergence and the "BEAR" labels currently populating the H1 peaks. If EUR/USD fails to clear 1.1800 and slips below the intraday pivot at 1.1780, we could see a move toward the 1.1750 zone, where the 50 MA (H1) is currently rising to meet price.A deeper correction toward the 1.1726 level cannot be ruled out if the US Dollar finds a haven bid during the session.Key Levels to Watch:Resistance: 1.1800, 1.1867, 1.2000Support: 1.1769, 1.1726, 1.1696 (Major)EUR/USD One-Hour Chart, April 15, 2026 Source:TradingView.com EUR/USD is enjoying a "bullish honeymoon" after reclaiming its major daily moving averages. While the H4 and H1 oscillators suggest a temporary breather might be healthy, the structural breakout suggests that dips are likely to be bought.Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2026 OANDA Business Information & Services Inc.

The US Dollar may have just seen its brightest days at the cost of a world-shaking US-Iran-Israel conflict.Having bullied through a gigantic rebound since February, the Greenback had been invincible. Petrodollar trades and higher-for-longer US rates tend to largely support the global reserve currency.Add to it historic bearish positioning against it, and traders saw the perfect conditions to push the USD to 11-month highs.This was enough to question whether dedollarization was just a fantasy, rather than a proper regime change in Financial Markets.Nevertheless, things changed in the past couple of weeks. President Trump, frustrated by developments such as lower stock markets, higher commodity prices, and a more expensive dollar—economic trends he publicly dislikes—found himself in a pessimistic mood right ahead of the November midterm elections.Hence, the Administration has been pushing aggressively for a truce, specifically because this aligns with the prolonged mid-April deadline for the conflict to end.While a proper peace deal hasn't yet been reached, diplomatic attempts are, for now, heading the right way, leading to a consequent tumble in the US Dollar. Daily FX performance against the US Dollar – Courtesy of Finviz (April 14, 2026) You can see the direct result from today's FX performance.The US Dollar lost around 2% of its value against a basket of major currencies and has begun to revert to its trajectory.Reaching a key support level, however, Currency traders could be taking a break from their dollar sales. We will explore key levels right after taking a quick look at the Dollar Index chart. Dollar Index (DXY) 4H Chart. April 14, 2026 – Source: TradingView Stalling at the major 98.00 Support, the US Dollar could be seeing a short-term pause in its selling; hence, it is important not to get caught in the crosswinds of a potential reversal.However, this could provide opportunities to catch a pullback in the currency and offer decent setups in major FX pairs!In preparation for the next phase of a longer-run dollar selloff (conditional on the conflict really coming to an end), we will look at three key FX Majors and their intraday timeframes to see how the range in the Dollar Index affects their own currency pairs: EUR/USD, GBP/USD, and USD/CAD. Read More:Stocks continue their peace (hopes) rally, Producer Inflation (PPI) misses! – Dow Jones and US Stock Market OutlookSilver (XAG/USD) at a Crossroads: Bullish breakout meets overbought momentumCritical Crossroads: USD/CHF tests key support at 0.78285. Is a bounce to 0.7900 up next?AUD/USD Technical Analysis: Bulls regain control as key psychological level holdsEUR/USD 4H Chart and Technical Levels EUR/USD 4H Chart. April 14, 2026– Source: TradingView EUR/USD quickly profited from the truce to rally 2,000 to 1.18.However, meeting a significant resistance zone and overbought RSI conditions, the odds for upside continuation from here a slim (on the short-run).In such conditions, buying on a pullback makes the most sense.Aggressive buyers could look at 1.1750 for entries (less optimal)The best setup would be located at the 1.17 to 1.1720 March PivotThis would require the peace process to keep progressing.Aggressive sellers could look to enter at current levels and will want to see a break below 1.17 to add to their positions (in the event of worsening fundamentals) Levels of interest for EUR/USD TradingResistance levelsResistance Zone around 1.18 (+/- 150 pips)1.1850 - 1.1860 ResistanceMorning highs 1.18114Sep 2021 Highs – Resistance 1.19 to 1.1950 ZoneSupport levels1.17 to 1.1720 March PivotPivotal Support 1.1625 - 1.16351.1540 to 1.1570 War SupportWar and August 2025 Lows 1.14USD/CAD 4H Chart and Technical Levels USD/CAD 4H Chart. April 14, 2026– Source: TradingView USD/CAD had taken quite a lead on its reversal from the higher-part of its 1.3550 to 1.3950 range.Finding buyers at the 1.3750 Pivotal support, the pair already begun its pullback, hence it could be wise to wait for a retest of the higher bound of the 1.38 pivot zone and bear channel (1.3810) to enter shorts.Coming back above the 4H 50-period MA (1.3862) would put back the advantage to the bulls.Levels of interest for USD/CAD TradingResistance Levels1.38 Pivot +/- 150 pips1.3850 Resistance1.39 to 1.3925 Support turned resistance1.3950 Range HighsSupport Levels1.3750 Pivotal Support1.3630 to 1.3660 Key Support1.3550 Main 2025 Support1.35 Key Psychological Support GBP/USD 4H Chart and Technical Levels GBP/USD 4H Chart. April 14, 2026 – Source: TradingView The Pound is under similar conditions as the Euro but grabs the upper hand in terms of strength and momentum against the US Dollar.GBP/USD is reaching overbought conditions and could see a decent support retest in coming times after extending without pullbacks.Aggressive buyers will look at the 1.3500 psychological level to catch a wider rally in the pair.More defensive pullback traders will have to wait for a retest of the key pivot, which would only be reached if the tone sours ahead of Thursday's US-Iran talks.Levels of interest for USD/CHF TradingResistance levelsDecember Resistance 1.36 (testing)Resistance 1.37 zone2025 Resistance around 1.381.3850 to 1.39 2021 ResistanceSupport levels1.35 minor supportKey Pivot and Support 1.34 to 1.3440Pivotal Support 1.3250 - 1.331.32 War SupportSafe Trades!Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.© 2026 OANDA Business Information & Services Inc.