if you look at the chart, anyone looking to preserve capital...

if you look at the chart, anyone looking to preserve capital will tend to set sell signals if there is a breach. It doesn’t need to be anything fundamental in the short term. The volume kicked in as it breached the 1.05/1.06 and it dropped to 99c/1.00 in a hurry which is most likely holders selling on capital preservation. What is encouraging is the buying at those levels and the lack of selling near the end where small volume shifted this 3-4 percent back up to the channel of 1.05/06 to 1.27/28. It is at the bottom of the bollinger bands and what happens in the next few days is critical for price action. What you want to see is that the buying continues and brings this back to the 1.10/11 levels.