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  • EUR/USD’s daily chart shows signs of bull fatigue near 1.2175. 
  • A minor pullback may be seen before stronger gains. 

EUR/USD is trading in a sideways manner at 1.2125, having faced rejection near 1.2175 for the second straight day on Friday.

The long upper wicks attached to the previous two daily candles indicate uptrend fatigue and validate the overbought reading on the 14-day Relative Strength Index. 

As such, the pair risks revisiting sub-1.21 levels. On the higher side, 1.2175 is the level to beat for the bulls. A break above that level would signal a resumption of the rally from the Nov. 4 low of 1.1602. 

The overall trend looks bullish with the pair ending the last week well above the September high of 1.2011. 

Daily chart

Trend: Bull fatigue

Technical levels