EUR/USD’s daily chart shows a bearish RSI divergence. The pair looks to have carved out a temporary top above 1.19. EUR/USD fell by nearly 0.80% on Wednesday as the oversold dollar picked up a bid after the Federal Reserve minutes pushed back against measures like yield curve control. Wednesday’s decline confirmed another lower high on the 14-day relative strength index. The indicator has charted multiple lower highs, contradicting higher highs on the price chart over the past three days. That bearish divergence suggests the bullish trend is running out of steam. As such, the spot could witness a notable pullback in the near term. The immediate support is seen at 1.1724 – the lower end of the daily chart sideways channel. A violation there would expose the former resistance-turned-support at 1.1495 (March high). The bullish view would be restored if the daily chart sideways channel is breached to the higher side. At press time, the pair is trading near 1.1840. Daily chart Trend: Bearish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY respects US dollar strength above all to pierce 106.00 FX Street 2 years EUR/USD's daily chart shows a bearish RSI divergence. The pair looks to have carved out a temporary top above 1.19. EUR/USD fell by nearly 0.80% on Wednesday as the oversold dollar picked up a bid after the Federal Reserve minutes pushed back against measures like yield curve control. Wednesday’s decline confirmed another lower high on the 14-day relative strength index. The indicator has charted multiple lower highs, contradicting higher highs on the price chart over the past three days. That bearish divergence suggests the bullish trend is running out of steam. As such, the spot could witness a notable pullback… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
