Spot Price: 1.2060
Technical Analysis:
Short taken as prices rallied toward the Jul 11/12 highs and the recently broken long-term uptrend line, now resistance, at 1.2070. That resistance has now been breached but our stop has not been hit yet. Hourlies remain overbought and topping which is why we faded the rally toward 1.2070 despite o/s and bottoming daily studies. 1.2030 is initial support.