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

EUR/USD found support at 1.0500 ahead of the Fed meeting next week and the release of reports on EU CPI and Germany's 1st quarter GDP. If inflation shows a slowdown and German GDP comes out in line with expectations, then the pair is likely to extend its rebound despite the possibility that the ECB will not raise rates in May.Technical picture:The quote is below the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. Meanwhile, the relative strength index (RSI) has left the oversold zone, while the stochastic indicator is growing steadily and is above 50%.Possible dynamics:The pair may rise to 1.0655.