EUR/USD is trading near 1.0400 ahead of the release of fresh consumer inflation data in the eurozone and speeches of Christine Lagarde and Jerome Powell. Pressure will return if inflation in the EU stabilizes and Lagarde says interest rates will not increase anymore.
Technical picture:
The quote is under the middle line of the Bollinger indicator, at the level of SMA 5 and SMA 14. The relative strength index (RSI) is below 50% and is indicating a slowdown in growth, while the stochastic indicator is in the overbought zone.
Possible dynamics:
A decline below 1.0400 will lead to a further fall to 1.0340.
