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EUR/USD tests 1.1700 as RSI signals overbought conditions
The euro pair is trading around 1.1682 after briefly moving above 1.1700, with resistance at 1.1700 and 1.1800 and support around the 200-day SMA near 1.1631.
EUR/USD is on track for a fourth straight weekly gain, but its earlier intraday advance has faded. FXStreet said the pair last traded around 1.1682 after briefly rising above 1.1700, its highest level since May 14.
The near-term technical outlook remains broadly bullish because EUR/USD has reclaimed the 50-day, 100-day, and 200-day simple moving averages in recent weeks. Those averages are clustered between roughly 1.1475 and 1.1631, and the MACD indicator remains positive, suggesting constructive momentum.
FXStreet also flagged that momentum may be getting stretched, with the RSI near 73 indicating overbought conditions that could cap immediate upside. It pointed to resistance at 1.1700 first, then 1.1800.
On the downside, the 200-day SMA near 1.1631 is listed as initial support, followed by the 100-day SMA around 1.1573 and the 50-day SMA near 1.1475. A deeper pullback could also expose a horizontal level around 1.1400.
Latest closeEUR/USD 1.157 ▲0.4%