FX.co ★ Technical review for EUR/USD: price may increase again

EUR/USD may move towards 1.0570 ahead of the release of the US employment report tomorrow. If the figures turn out to be weaker than the forecasts, the pair will rise even higher.

technical picture:

The quote is above the middle line of the Bollinger indicator, at the SMA 5 and above the SMA 14. The relative strength index (RSI) is above 50%, but is indicating a potential price decline. The stochastic indicator, meanwhile, is in the oversold zone.

Possible dynamics:

The pair may decline to 1.0570. Consolidation above this level, as well as weak US unemployment data, is likely to push the pair higher, up to 1.0700.