If we move past it, the zone between 126.74 and 128.92 should prove to be an effective barrier against stubborn bulls.
Rgmov has formed a new 2 month high, but the price action indicates the rally is weak, as evidenced by the lower momentum reads, and the pattern. Most likely a short squeeze rally leading to a very big short.
Should be interesting to enter shorts once the target is hit, in time or in price (or both).
Currently price is contained between two options expirations s/r levels, which have been respected in the past, and also coincide with the mode of the advances. Keep close watch of these lines, they've proved to be very effective with bonds.
Time at Mode FX