Although the trend has been intensely USD bullish with the market dropping to fresh 2010 lows below 1.3000 thus far, we are sensing that the near-term risks are for a corrective bounce given stretched daily and weekly studies. Next key support comes in by 1.2885, which represents the April 2009 lows, and while we expect this level to be tested, it also may offer itself as a formidable spot for the base of the next medium-term lower-low. STRATEGY: BUY @1.2890 FOR AN OPEN OBJECTIVE; STOP 1.2790. RECOMMENDATION TO BE REMOVED IF NOT TRIGGERED BY NY CLOSE ON WEDNESDAY. POSITION SIZE SHOULD BE 3X TOTAL EQUITY.