I put the hourly uptrend at around 1.3512. We slipped as low as 1.3519 before rebounding and trade now near 1.3530. Expect 1.3535 to provide modest resistance near-term. A break of trendline support likely won’t open the euro flood gates to the downside given the series of rising lows since a week ago Thursday. The 1.3500 area is the first, followed by 1.3495 and 1.3460 ahead of the 1.3444 trend low. In other words, expect a grind lower, not a collapse if 1.3512 is overcome.