The pair is trading below the level of 1.1075 due the weaker yields of US treasuries, while the short positions are closing en masse in anticipation of ECB head Christine Lagarde's speech this Friday. She is expected to reveal both her own and the regulator's attitude regarding the bank's future monetary policy.
The price is above the middle Bollinger bands, above SMA 5 and SMA 14. RSI is located below the overbought zone. Stoch crossed in the overbought zone.
Trading recommendations:
If the pair does not rise above 1.1075, it may make a local reversal and resume droping to 1.1000.