EUR/USD has flipped from peak to trough 20-Day Bollinger bands

Rally was stretched when pair reached 2023 high at 1.1096 on Apr 26

Pair is close to target for min tech correction Mar-April rise

That target is 38.2% 1.0517-1.1096 EBS rise which is 1.0875

Speculators have been keen buyers since September 2022

Specs added $4bln during March-April gain increasing net long to $23.8bln

Record $31.3 billion long bet was achieved in August 2020 - room for growth

Targets for resumption of the rally: 1.1121, 1.1190, 1.1258 and 1.1479

Dollar turned south in April which may prove decisive nL1N3790BP