EUR/USD has come up against the 50-Day SMA (1.0876) as it continues to pull back from a fresh monthly high (1.1012), and the exchange rate may continue to trade within the May range as the moving average no longer reflects a positive slope. EUR/USD appears to be reversing course ahead of the May high (1.1092) as initiates a series of lower highs and lows, with the Relative Strength Index (RSI) reflecting a similar dynamic amid the failed attempt to push into overbought territory. Looking ahead, it remains to be seen if data prints coming out of the US will sway EUR/USD as Durable Goods Orders are projected to ... (full story)