EURUSD resumed upside momentum on Friday but the gains were not enough to overcome the 1.12 key resistance area, with the price remaining below its simple moving averages (SMA) as well. The MACD continues to hold close to its red signal line and the RSI keeps fluctuating near the 50 neutral mark, both pointing to a sideways short-term trading. A decisive close above the previous high of 1.1214 and therefore higher than the 50-day SMA could spark a stronger rally, turning the spotlight to May’s peak of 1.1262. Running higher and towards the 1.1320-1.1346 former congested zone, would bring into question the downtrend ... (full story)