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24.05.202212:50 Forex Analysis & Reviews: Technical review for EUR/USD: price may continue to grow

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EUR/USD is trading above 1.0700 because of growing expectations of more aggressive rate hikes by the European Central Bank.

Technical picture:

The quote is above the upper line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is in the overbought zone and is moving up, while the stochastic indicator is below the overbought zone.

Possible dynamics:

Growth and consolidation above 1.0700 may lead to a local rise to 1.0815.

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