is getting very close to breaking the low from 03.12.2016 (1.43479). I am currently long already so I need to take this into consideration if we break lower. If we break through 1.43479 then a fall down to 1.3725 is possible. So we need to keep trades small.
IF we see a bounce from here instead.. then we might expect it to hit the downward sloping trend line
which is around 1.4900 right now.
Be warned though, this has the potential to fall very quickly if we do break lower.