EURUSD as we explained in our last analysis has most probably topped and is looking for a healthy pull back towards 1.1230-1.1135. Our first target is getting very close as price is now trading around 1.1280.
The RSI in the Daily chart has just started turning lower. I do not expect at this point the RSI to fall to oversold levels but I expect a pull back and a try for a new high both in EURUSD and in the RSI. My most probable target area for this pull back is at the upper wedge boundary where we could see a back test of the break out area at 1.1160.
