The US dollar clawed back losses as services PMI exceeded expectations. A bullish RSI divergence indicates a loss of momentum in the sell-off. The pair bounced off the demand zone around 130.50 at the start of the June breakout. This could be due to profit-taking from the short side. A close above 134.50 would help the bulls reclaim control of the price action. From the daily chart perspective, the uptrend is still intact in the medium-term, though there is a chance of consolidation in the coming days.
