The US dollar tumbled as US GDP growth in Q2 came out below market expectation.
The breakout below 0.9120 was a confirmation that the bears have gained the upper hand following a three-week-long consolidation. Bearish sentiment accrued as momentum traders jumped in aggressively.
The price is heading towards the psychological level of 0.9000, right above the critical support (0.8930) on the daily chart.
An oversold RSI may cause a limited rebound which is likely to be capped by 0.9165.
