- EUR/USD’s daily chart shows signs of bull fatigue.
- The pair risks revisiting the 10-day SMA support.
EUR/USD is currently trading in the red near 1.1850, having printed gains in each of the preceding four trading days.
The pair faced rejection at 1.1894 on Tuesday and closed with a meager 0.10% gain at 1.1863, forming a daily candle with a long upper shadow. Such candlesticks imply bull fatigue and are often followed by weak price action.
Therefore, the pair could extend the current marginal daily losses to the ascending 10-day simple moving average (SMA) support at 1.1830. A violation there would expose the Nov. 11 low of 1.1745.
On the higher side, Tuesday’s high of 1.1894 is the level to beat for the bulls.
Daily chart
-637412626396342502.png)
Trend: Bull fatigue
Technical levels
Share
