EUR/USD has moved up to a higher trading range: 1.1375 to 1.1430. The pair is experiencing a nice pattern which involves some range trading, a clear break higher and then further range trading which does not interfere with the previous range.
The background is the disappointing retail sales report in the US. Consumers did not push up spending in April and this one cannot be blamed on the weather. In addition, the Greek troubles continue, but this doesn’t seem to bother the euro too much.
Read the rest of the article EUR/USD settles in higher range as USD sell-off continues