Not a smooth move lower but the bias remains bearish

Wednesday long lower candle shadow hinted at supply fade

Early Thursday action tight within a 1.2490-01 range

Initial support at 1.2467, May 1 low

Bears can target a 50% Fibo level at 1.2434, off 1.2299-1.2569

Fourteen day momentum yet to confirm price drop but RSI pointing down

We lean bearish but wait for stronger signals

For more click on FXBUZ