FX.co ★ Technical review for EUR/USD: euro may see a downward correction

EUR/USD halted ahead of the release of EU's consumer inflation data for May. Forecasts suggest that growth will maintain in monthly terms, while increase in terms of year-on-year. If that really happens, the pair will resume growth. Otherwise, a price decrease may occur.

technical picture:

The quote is under the middle line of the Bollinger indicator, below the SMA 5 and SMA 14. The relative strength index (RSI) is below 50% and is gradually decreasing, similar to the stochastic indicator.

Possible dynamics:

A decline and consolidation below 1.0740 is likely to lead to a further fall to 1.0700.