EURUSD Technical Analysis 15.03.2017

EURUSD

The pair is trading higher than 1.0600, awaiting for the results of the 2-day Fed. meeting on the interest rates. The interest rate hike is already reflected in the quotes, but any prognosis regarding the preservation of the current increase rate this year or even its acceleration will support the US currency. 

The price is lower than the middle Bollinger band, higher than SMA5, but lower than SMA14. RSI is rising and resides just above the 50% level. Stoch have left the oversold zone.

Trading recommendations:
If the price falls lower than 1.0600 following the positive news from the Fed., a further decline may be triggered, with the pair reaching 1.0530 or even 1.0500.