Retreating US yields have led to profit-taking on the US dollar.
An RSI divergence in the overbought area was a sign of a loss in the bullish momentum. Then a 100-pip drop below the 20 and 30-hour moving averages and a bearish MA cross confirmed the overextension.
The pair is now testing its first key support at 0.9250. An oversold RSI indication could attract some bargain hunters. Though a failure to hold on to that level may trigger a deeper correction towards 0.9180.
