The US dollar struggles on speculation that the Fed is nearing the end of its tightening. The pair is holding on to its gains after breaking above May’s high of 1.0780. A bearish RSI divergence suggests a deceleration in the momentum and may foreshadow a potential pause in the rally. But as sentiment improves, the bulls may see a pullback as an opportunity to stake in with 1.0750 as the first support. 1.0660 at the origin of the latest breakout and on the 30-day moving average is a major level. 1.0950 is the target in case of a bounce.
