Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart for the EUR/USD, the technical indicators have turned lower within overbought territory. Key Quotes: "The pair has rallied with little corrections in the middle ever since the week started." "The RSI indicator remains above 70, and the price far above a bullish 20 SMA, as the price holds above its previous yearly high of 1.1375, all of which maintains the risk towards the upside." "The pair may suffer a downward knee-jerk on a very strong US report, particularly if wages surge beyond expected, but after the dust settles, speculative interest will be likely looking to buy the dips." For more information, read our latest forex news.