The 0.7050 level that the wise old owl Sean mentioned would have big buy orders waiting also co-incides with the technical level that i think we are headed back to, but first we need to break back below 0.7200 which has been a signifcant level for the past couple of weeks.
A look at the daily chart and you will notice that the base of the current upsloping channel we are in (light blue line) also happens to come in around 0.7050 and if all roads are leading to Rome, then i guess that is where we are going. It is also worth noting that we seem to have failed so far right on the 200 DMA at 0.7335. It is worth selling the break below 0.7190 and also looking to sell around 0.7260 with a stop above 0.7350 and we will reasses the lie of the land once we reach my initial target of 0.7050.
