EUR/USD – re-test of 200-DMA likely

Failure at 1.0950 for two consecutive days in the wake of overbought RSI on the 4-hour chart suggests a pull back to 1.0940 (200-DMA) is more likely, although the dips below 200-DMA could see fresh demand for EUR, courtesy of the upward sloping 5-DMA and 10-DMA.

Only two consecutive daily close below 10-DMA would signal the erratic rally from the low of 1.0569 has ended.