• EUR/USD remains within previous ranges, at 1.1530 amid a mild bearish bias.
• Investors hold their breath ahead of Trump's deadline for destroying Iran.
• ECB's Radev says that it is too early to bet on an April rate hike.

The Euro (EUR) is showing a moderate selling tone against the US Dollar (USD) as traders return from a long Easter weekend on Tuesday. The pair was rejected at 1.1571 on Monday but remains steady at 1.1530 at the time of writing, at a safe distance from the bottom of the last few days’ trading range, at 1.1505, with all eyes on Iran’s war.

US President Donald Trump reiterated his threats on Monday, warning Tehran that the US could destroy a country tonight, as the latest deadline to reopen the Strait of Hormuz expires on Tuesday, at 8 PM Easter Time (00:00 GMT on Wednesday).

Previously, the US and Iran rejected the 45-day ceasefire proposal offered by Pakistan, and Tehran came out with an alternative plan, considered “significant” by Trump but not good enough.

Investors maintain some confidence in a last-minute breakthrough, which is keeping the Euro from depreciating further. Apart from that, the European Central Bank’s (ECB) Governing Council member, Dimitar Radev, affirmed that it is still “too early” to say whether the bank will hike rates in April, as they might need some data amid the elevated level of uncertainty.

Technical Analysis: Sideways consolidation

Nothing new from the technical perspective. The EUR/USD keeps consolidating within a horizontal range, amid a mildly bearish near-term bias. The Relative Strength Index (RSI) hovers just below the 50 line, and the Moving Average Convergence Divergence (MACD) histogram has flattened around zero with its line turned marginally negative, showing a cautious stance rather than a strong directional push.

Immediate support emerges at the 1.1505 area, which held bears on April 2 and 6. A confirmation below here would expose the March 30 and 31 lows near 1.1440, ahead of the multi-month lows, at 1.1411 hit in mid-March.

A bullish reaction above the near-term channel's top, at the 1.1570 area, would target the late March and early April highs, in the area between 1.1630 and 1.1640. Further up, the March 10 high, at 1.1667, emerges as a plausible target.

(The technical analysis of this story was written with the help of an AI tool.)