The steep bearish trendline is still relevant and a test of recent lows at 1.3210 or even 1.3145 looks very likely. Contrarians (like myself) will wait for either level to hold and the trendline to then break before committing. Bears will likely stick with their strategy until a basing pattern forms or recent highs at 1.3550 get taken out. Play the edges of these ranges and wait for confirmation of breaks before committing to the next medium term move.
