The price is currently testing the moving average level at the 1.6350 level. A break of this level followed by a move below the 1.6330 area will target the next level on the downside at the lows for the day at the 1.6294 level. Watching this pair closely. We could be ready to correct from the sharp move higher over the last few days. If the price is able to hold, however, don’t ignore the upside momentum.