- The EUR / USD daily chart shows signs of bullish trend fatigue.
- A pullback to short-term SMA support can be seen.
EUR / USD is trading just above the 1.2150 level during Friday’s European session, posting a gain of more than 1.5% for the week.
While the pair rose for the third day in a row on Thursday, it created a candle with a long upper wick, a sign of uptrend fatigue, showing doubt along with the signal of a 14-day RSI above 70 in the region of overbought.
As such, a pullback to the ascending 5-day SMA, currently at 1.2078, could be in the offing. A break below that level would expose the 10-day SMA at 1.1991. A close below 1.20 would weaken the immediate bullish case.
Looking up, resistance is seen at 1.2175 (Thursday high) and 1.22 (psychological level).
EUR / USD daily chart
EUR / USD technical levels
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