- EUR/USD extends the previous day’s recovery moves from 1.1737.
- Overbought RSI conditions doubt the pair’s further upside.
- The key Fibonacci retracements and HMAs are nearby to please the sellers.
EUR/USD clears a three-day-old trend line resistance while picking up bids near 1.1855/60 during Friday Asian session. Even so, overbought RSI conditions question the pair’s notable rise marked on Thursday.
As a result, buyers remain cautious unless witness a clear break of 1.1855. On the contrary, the pair’s pullback moves will have a 100-HMA level of 1.1843 as immediate support to watch.
Should the quote slips below 1.1843, 61.8% Fibonacci retracement of September 15-17 downside close to 1.1838 and 200-HMA surrounding 1.1830 will be the key to watch before taking additional selling positions.
Until then, the 1.1900 threshold lures EUR/USD bulls before probing them with September 10 top near 1.1920, the 1.2000 psychological magnet and the monthly high of 1.2011.
Additionally, the pair’s run-up past-1.2011 will direct the optimists towards the early-January 2018 peak of 1.2089 before highlighting the March 2018 low of 1.2154.
EUR/USD hourly chart
Trend: Pullback expected
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