Spot Price: 1.9860
Technical Analysis:
The RSI is strolling around the o/b level but didn’t cross the 70% key level.
Short taken earlier today after Wed"s recovery peak at 1.9895 could not be retested. Sell-off has been limited thus far and we are now eying the 38.2% of 1.9715/1.9895 at 1.9825 as a first profit-taking option. Downtrend line off the May 1 high was breached Wed but could not be closed beyond, and is at 1.9860 today. Close below undermines daily studies rebounds.