EUR/USD Technical Analysis: At 3-week highs, minor pullback likely before further gains

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The EUR/USD pair is currently trading at 1.1508 – the highest level since Jan. 11 – on the back of dovish Fed and could rise further toward the Jan. 10 high of 1.1570, albeit after a minor pullback, as the short duration charts are reporting overbought conditions. 

Hourly chart


	EUR/USD Technical Analysis: At 3-week highs, minor pullback likely before further gains

  • As seen above, the RSI is holding in overbought territory above 70.0, validating bull exhaustion signaled by the long upper shadows attached to the previous two hourly candles. 

15-min chart


	EUR/USD Technical Analysis: At 3-week highs, minor pullback likely before further gains

  • The RSI on the 15-min chart is not confirming higher highs seen in EUR/USD. Put simply, the indicator has diverged in favor of the bears. The pair, therefore, could fall back to 1.1480 before resuming the post-Fed rally. 

Trend: Bullish but minor pullback likely
 

EUR/USD

Overview:
    Today Last Price: 1.1508
    Today Daily change: 27 pips
    Today Daily change %: 0.24%
    Today Daily Open: 1.1481
Trends:
    Daily SMA20: 1.1422
    Daily SMA50: 1.1393
    Daily SMA100: 1.1446
    Daily SMA200: 1.1568
Levels:
    Previous Daily High: 1.1502
    Previous Daily Low: 1.1406
    Previous Weekly High: 1.1418
    Previous Weekly Low: 1.1289
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Daily Fibonacci 38.2%: 1.1466
    Daily Fibonacci 61.8%: 1.1443
    Daily Pivot Point S1: 1.1424
    Daily Pivot Point S2: 1.1367
    Daily Pivot Point S3: 1.1327
    Daily Pivot Point R1: 1.152
    Daily Pivot Point R2: 1.156
    Daily Pivot Point R3: 1.1617

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