This will be an important area for the rest of the week with NFP on Friday. We have had a nice pullback and should see sellers at this level. A breakout of the trendline would be a major deal and do not think that with NFP there are enough bulls to make it happens – but you never know. Should this level be respected we are looking for a double bottom first at 1.3849 with further targers at the S5 1.3819 and the support at 1.3731.
