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

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

• 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

• 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

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LOW  SPREAD  AS 0.0 PIPS