The euro rose after ECB official Martin Kazaks said the ECB could reduce emergency bond purchases (PEPP).
The pair has found strong buying interest in the demand zone above 0.8600. An RSI divergence on this major support was a foresign that the selling pressure had lost steam.
The current rebound is still within a consolidation range between 0.8610 and 0.8720.
A bullish breakout may open the path towards 0.8780. A failure to do so would lead to a pullback to test bids at 0.8655.
