The pair remains in a short-term uptrend. It found support at 1.2175. If ECB's head Christine Lagarde makes it clear in her speech today to not expect changes in the monetary rate of the regulator, this may support the pair in the short term.
Technical side:
The price is located above the middle line of the Bollinger band, above SMA 5, but still below SMA 14. RSI is above the 50% level and is turning up. Stoch are also showing a local upward reversal.
Trading idea:
Expect the pair to grow to 1.2280.