FX.co ★ Technical review for EUR/USD: price may see a local increase

EUR/USD is rising, thanks to growing market demand for risky assets and continued hopes that the European economy will not fall into a deep recession. The current environment also supports the rollback that has begun in stock markets, as well as puts pressure on the dollar.

technical picture:

The quote is above the middle line of the Bollinger indicator, above SMA 5 and SMA 14. The relative strength index (RSI) is also above 50% and is growing steadily, while the stochastic indicator is in the overbought zone.

Possible dynamics:

A rise and consolidation above 1.0480 may lead to a limited growth to 1.0580.