The pair reached a local low of 1.2175 amid falling demand for risky assets and higher yields on US government bonds. But today, if the market sentiment changes to positive sentiment, expect a local increase in the pair.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is turning up. Stoch intersect in the oversold zone.
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Trading recommendations:
Buy the pair with its probable growth to 1.2270.