19.06.2020
The pair is consolidating in the range of 1.3500-1.3685 due to the ambiguous dynamics of crude oil prices and contained demand for risky assets. Local oil prices turnaround upward as well as increasing investors’ interest in buying shares will support the pair.
Technical side:
The price is above the middle Bollinger band, under SMA 50, but higher SMA 14. RSI is above 50% and moves horizontally. Stoch indicators are in the range of oversoldness and are not informative.
Trading recommendations:
Expect limited growth of the pair to 1.3685.
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