The pair, having corrected down after reaching a local high of 1.2270 a week earlier, is turning up again amid the news that Donald trump has finally launched the latest measures to support the US population adopted by Congress, which will put additional pressure on the US dollar due to the expansion of its supply in the US financial system.
Technical side:
The price is located above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50%, while showing a stop in growth. Stoch are entering the overbought zone.
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Trading recommendations:
Fixing the price above the level of 1.220 may lead to an increase to 1.2270.