Although yesterday's rebound after marginal fall to 1.2885 suggests a temporary low has been formed there and consolidation above this level is in store, near term overbought condition should limit upside to 1.3090 (previous support, now resistance) and yield retreat later to 1.2940/50 but said support should continue to hold and bring another corrective bounce.  
Above 1.3120 would signal a stronger retracement of recent decline is under way for headway to 1.3170/75 before prospect of a strong pullback...