Geopolitical uncertainty after canceled US-Iran negotiations strengthens the USD, weighing on the EUR/USD pair near 1.1425.
The EUR/USD pair fell to 1.1425 in early European trading on April 23, 2025, as the US Dollar gained safe-haven support. The decline follows the cancellation of planned US-Iran talks in Switzerland, with reports indicating the Iranian delegation postponed its trip amid regional tensions.
Technical indicators show the pair trading below its 20-day Bollinger middle band and 100-day simple moving average. The Relative Strength Index at 30.6 suggests oversold conditions, though downside pressure persists. Resistance levels are seen at 1.1450 and 1.1577.
The Swiss Foreign Ministry confirmed the talks were called off, while US Vice President JD Vance canceled his trip to the negotiations.