Technical Analysis: EUR/USD trades inside Tuesday’s trading range
EUR/USD trades in a narrow range around 1.0850 as investors await the FOMC minutes release for fresh guidance. The major currency pair hovers inside Tuesday’s trading range, suggesting a sharp volatility contraction. The shared currency pair is broadly firm as it holds the Symmetrical Triangle breakout that formed on a daily timeframe. Also, a bullish crossover of the 20-day and 50-day Exponential Moving Averages (EMAs) around 1.0780 has improved the near-term outlook of the shared currency pair.
The 14-period Relative Strength Index (RSI) has shifted comfortably into the bullish range of 60.00-80.00, suggesting that the momentum has leaned toward the upside
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