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FX.co ★ Technical review for EUR/USD: price will grow, but it will be limited

Technical review for EUR/USD: price will grow, but it will be limited

EUR/USD is recovering from yesterday's dip, thanks to the growing demand in stock markets and the local weakening in dollar. It seems that investors have already factored into prices the expected 0.50% rate hike of the Fed in June.

technical picture:

The quote is below the middle line of the Bollinger indicator, above the SMA 5, but below the SMA 14. The relative strength index (RSI), meanwhile, is moving up, similar to the stochastic indicator, which is already leaving the oversold zone

Possible dynamics:

Rising above 1.0410 will lead to a local rebound to 1.0465.

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Technical review for EUR/USD: price will grow, but it will be limited

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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