Why is EUR/USD moving lower today?

EUR/USD is trading at 1.14286 during the Asia session, down 0.15% on the day, as it approaches the previous day low at 1.14287 and S1 support at 1.14237. While media reports highlight broad US dollar strength and policy updates, these discussions represent external commentary rather than proven causes for the current intraday move.

How do Flash PMI releases affect the Euro?

Flash PMIs are scheduled economic indicators that measure business activity across manufacturing and services. Today's high-impact releases from Germany, France, and the wider Eurozone are watched by market participants for potential volatility in the Euro.

What economic data is impacting EUR/USD news today?

Today's calendar includes an ECB speech by Vujčić, followed by French, German, and Eurozone HCOB PMI reports. Later in the US session, S&P Global will release US flash PMIs, followed by a scheduled speech from the Federal Reserve's Barr.

EUR/USD News Today: Euro Tests Support Near 1.14287

Market news Bearish bias Sep 23, 2026, 04:34 UTC

Sophia BennettSenior FX Analyst · ForexR analyst

EUR/USD is trading at 1.14286 during the Asia session, down 0.15% on the day, with market participants looking toward scheduled flash PMI data from both Europe and the US.

City towers and bridges beside a river at sunset

Price1.14286

Day change-0.15%

Day range1.14247 - 1.14505

ATR (14)0.00472

Resistance	Level	Support	Level
R3	1.15215	S1	1.14237
R2	1.14995	S2	1.14017
R1	1.14726	S3	1.13748
Previous day high	1.14776	Previous day low	1.14287
20-day high	1.16763	20-day low	1.14287
Daily pivot 1.14506. Data as of 2026-09-23 04:30 UTC; price from a live feed, levels computed from the previous completed daily bar.

EUR/USD 1-hour chart with the daily pivot at 1.14506, R1 1.14726, R2 1.14995, S1 1.14237, S2 1.14017 and the bullish and bearish scenario paths — EUR/USD, 1-hour candles with the daily pivot levels, the range between nearest support and resistance, and both scenario paths. Data as of 2026-09-23 04:30 UTC.

During the Asia session, the live EUR/USD rate is trading at 1.14286, representing a decline of 0.15% from the day open of 1.14448. The current market structure shows the exchange rate trading below the daily pivot of 1.14506. Today's trading occurs within a daily high of 1.14505 and a daily low of 1.14247, with traders closely watching the key support levels situated just below current pricing.

Economic Growth Showdown: The Global PMI Calendar

Today features a concentrated sequence of high-impact macroeconomic data releases. Flash purchasing managers' index (PMI) updates are scheduled to cross the wires throughout the European and US trading sessions. While these releases are highly anticipated, they represent scheduled macroeconomic events rather than proven explanations for current intraday price fluctuations.

European Outlook: Manufacturing and Services Data from Germany and EMU

The European calendar begins today at 07:00 UTC with a speech by the ECB's Vujčić. This is followed at 07:15 UTC today by France's HCOB Flash PMIs, with Services PMI estimated at 48.5 (previous 48), Manufacturing PMI estimated at 50.9 (previous 51.1), and the Composite PMI carrying a previous reading of 48.5.

At 07:30 UTC today, Germany's HCOB Flash PMIs are scheduled. The German Manufacturing PMI is estimated at 54.5 (previous 54.3), Services PMI is estimated at 50 (previous 49.7), and the Composite PMI holds a previous reading of 51.8. Shortly after, at 08:00 UTC today, the wider Eurozone (EMU) releases are due. The EMU Manufacturing PMI estimate is 52.7 (previous 52.7), the Services PMI estimate is 51.7 (previous 51.6), and the Composite PMI is estimated at 51.5 (previous 52). Traders can track these economic indicators using our economic calendar.

US Resilience: S&P Global PMI and Federal Reserve Rhetoric

As focus turns to the US session today, S&P Global will release flash PMI statistics at 13:45 UTC. The US Services PMI is estimated at 56 (previous 56.5), the Manufacturing PMI is estimated at 53.5 (previous 53.9), and the Composite PMI sits at a previous reading of 56. Following these reports, the Federal Reserve's Barr is scheduled to speak today at 14:05 UTC.

Providing broader context for the US dollar, Treasury yields at the close of September 22, 2026, saw the 2-year yield at 4.71%, registering a 5 basis point decline from September 21, 2026. On the same day, the 10-year yield was unchanged at 4.96% and the 3-month yield closed at 4.16%.

Market Dynamics: Why the Euro is Testing Support Levels

The Euro is currently testing nearby levels, with the nearest technical resistance sitting at the previous day low of 1.14287, just 0.1 pips away, and nearest support at the daily S1 of 1.14237, which is 4.9 pips below. General media themes from publishers like FX Street cover global dollar strength and upcoming geopolitical discussions. Additional coverage from Crypto news mentions how digital markets are absorbing interest rate policies. These headlines reflect broader market discussion rather than proven causes for current price actions.

Our news sentiment assessment registers a media mood score of 75 out of 100, showing a 63% bullish and 37% bearish balance in coverage, while the independent opportunity read sits at a bearish -28. In terms of market positioning, the CFTC Commitments of Traders report as of the week to September 15, 2026, shows that large speculators held a net short EUR/USD position of -26993 contracts. Speculators reduced net short EUR/USD exposure compared to the prior week's net short of -42616 contracts.

The daily trend remains down, and today's trading range of 25.8 pips represents 55% of the 14-day Average True Range (ATR) of 47.2 pips. To manage risk effectively in this environment, traders can consult our guide on the ATR indicator.

Technical Scenarios: Bullish and Bearish Triggers for the US Session

The daily trend shows a bearish technical structure, with the price trading below its daily EMA20 of 1.15428, daily EMA50 of 1.15477, and daily EMA200 of 1.16012. Additionally, the daily RSI14 sits at 32.4, and the H4 EMA20 and EMA50 stand at 1.14609 and 1.14992 respectively.

For a bearish continuation, a break below S1 at 1.14237 would open the way to target S2 at 1.14017. This view would be invalidated if the price moves back above the daily pivot at 1.14506. Alternatively, a bullish scenario requires a break above R1 at 1.14726 to open the way to target R2 at 1.14995, whereas a move back below the daily pivot at 1.14506 would invalidate the bullish view.

Looking at key extremes, the 5-day low is 1.14287, while the 5-day high is 1.15559. For broader historical context, the 20-day low is 1.14287 and the 20-day high is 1.16763. Traders can follow daily developments on our EUR/USD latest news page.