The EUR/USD currency pair on Tuesday bounced off the trendline support at about 1.0969 to trade at about 1.1000 following the latest round of data. The currency pair appears to be trading within a gently descending channel formation in the 60-min chart. Tuesday’s rebound pushed the currency pair closer to the 100-hour moving average line. As a result, the pair now seems closer to reaching the overbought levels of the 14-hour RSI. From a fundamental perspective, the EUR/USD currency pair is trading at the back of a relatively busy period in both markets. On Tuesday, the German retail sales for April missed the ... (full story)