However, ECB did not commit all the T-LTRO nor the ABS in one shot. FED din't yet increased its prices. Although FED will put an end to QE3 this month, there is still cheap money in the market. Therefore, USD may consolidate a little bit towards 1.30 are around i.e 0382 % of Fib retracement before plunging down towards 1.20
On a purely chartist approach, one can see that if the orange short term breaks, this will be a confirmation of the consolidation of USD against EUR . One should not expect EUR to go over the blue which is a medium term/long term .
is oversold because sellers were very harsh against EUR but there will be a little market correction.