Despite yesterday's selloff to a fresh 4-year low of 1.2110, subsequent rally to 1.2355 signals a temporary low has been made and few days of choppy consolidation would be seen, however, breach of said level needed to bring stronger retracement of recent downtrend to 1.2430, however, res at 1.2454 is expected to remain intact.    On the downside, only a daily close below 1.2185 would signal correction is over instead and bring resumption of medium-term downtrend for re-test of said low.