EURRUB technical analysis 22.05.2020

EURRUB

The has pair turned down amid the falling demand for risk assets. At the same time, it's still trading within the range of 1.0760–1.1015, where it’s likely to remain for the next week. The pair will be under pressure today.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. The moving averages intersect and suggest selling. RSI crosses the level of 50% and also signal to sell. Stoch entered the oversold zone.

Trading recommendations:

The pair dropped below 1.0920, which signals the need to sell it with a likely local target of 1.0860.

The EURRUB rate online: monitor the movement of the pair in real time.