R3: 1.5900/10

R2: 1.5850

R1: 1.5780

Current Price: 1.5745

S1: 1.9670/80

S2: 1.9620

S3: 1.9550

Rate takes the path of least resistance on the news but as the day wore on no follow-through was seen. Long selling wick on the day is the largest wick on daily action in over a year suggesting that volatility is being sold near-term. Late longs likely have stops under the daily low and bids may have been pulled after the highs so far away were hit; traders note that longs likely selling out into the highs. Expect volatility but a top is certainly forming near-term.