The pair remains in a short-term uptrend. It is above the 1.2240 level. The is growing due to the weaker US dollar amid the saturation of the dollar in the financial system, and its role as a funding currency. Expect a smooth increase in the pair ahead of the publication of updated US employment data next week.
Technical side:
The price is located above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is above the 50% level and moves horizontally. Stoch are above the 50% level and are uninformative.
Trading idea:
Buy a pair with a target of 1.2340.