The gains at the start of the session are failing to hold but it is still early in the day to be drawing much conclusions. US stocks had a great run-out in trading yesterday but futures are failing to build on that optimism so far today. S&P 500 futures were up as much as 27 points earlier in the day but are now down by 4 points at the lows:

It is going to be a testing day for both buyers and sellers with the 28 June high in focus from a technical perspective:

This article was written by Justin Low at www.forexlive.com.