The pair remains in a short-term uptrend. It continues to grow in the wake of the US dollar fundamental weakness due to various stimulus measures and the FED’s ultra-soft monetary policy. This growth will continue in the short term.
Technical side:
The price is located at the level of the upper Bollinger band, above SMA 5 and SMA 14. RSI enters the oversold zone. Stoch also demonstrates this.
Trading idea:
Expect a resumption of the pair's growth to 1.2280 after a possible corrective decline to 1.2175.