EUR/USD has rallied 1.0349-1.0642 EBS in past week, last 1.0576

The pair fell 1.2266-1.0349 after taper talk emerged

Bounce far from minimum objective for a tech correction of that drop

The bounce occurred because the sell-off was stretched

EUR/USD was trading deep below 20-month Bollingers. Base is 1.0638

Traders were long before the bounce which may encourage them to add

Expect downside pressure to build ahead the next Fed hike on Jun 15

Once oversold conditions are alleviated EUR/USD should drop again