EUR/USD is trading above 1.0700 because of growing expectations of more aggressive rate hikes by the European Central Bank.
Technical picture:
The quote is above the upper line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is in the overbought zone and is moving up, while the stochastic indicator is below the overbought zone.
Possible dynamics:
Growth and consolidation above 1.0700 may lead to a local rise to 1.0815.