EUR/USD Technical Analysis: Bear RSI divergence on 1H, 200-week MA is strong support

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On Friday. the EUR/USD pair logged its biggest single-day rise in four months, invalidating the bearish view put forward by the downside break of the trendline connecting the Nov. 13 and Dec. 14 low on Thursday. As of writing, the pair is trading at1.1412, having clocked a high of 1.1426 earlier today. 

Hourly chart


	EUR/USD Technical Analysis: Bear RSI divergence on 1H, 200-week MA is strong support

  • The EUR/USD pair could revisit 1.1393 (200MA on 4H chart), as the relative strength index (RSI) on the hourly chart has diverged in favor of the bears. 

Weekly chart


	EUR/USD Technical Analysis: Bear RSI divergence on 1H, 200-week MA is strong support

  • The 200-week moving average (MA) is the level to beat for the bears. As seen in the chart below, that moving average has proved a tough nut to crack since August 2011. As a result, only a convincing weekly close above that average, currently at 1.1323 could embolden the bears. 

Trend: minor pullback likely

EUR/USD

Overview:
    Today Last Price: 1.1415
    Today Daily change: 0.0000 pips
    Today Daily change %: 0.00%
    Today Daily Open: 1.1415
Trends:
    Daily SMA20: 1.1418
    Daily SMA50: 1.139
    Daily SMA100: 1.1451
    Daily SMA200: 1.1579
Levels:
    Previous Daily High: 1.1418
    Previous Daily Low: 1.13
    Previous Weekly High: 1.1418
    Previous Weekly Low: 1.1289
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Daily Fibonacci 38.2%: 1.1373
    Daily Fibonacci 61.8%: 1.1345
    Daily Pivot Point S1: 1.1337
    Daily Pivot Point S2: 1.1259
    Daily Pivot Point S3: 1.1218
    Daily Pivot Point R1: 1.1456
    Daily Pivot Point R2: 1.1497
    Daily Pivot Point R3: 1.1575

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