It would probably take a move back below the 1.3880/90 area, a former range top as well as trendline support drawn off the lows in the 1.3740s in the early part of March. Shorter-term players may pail on a break of support in the 1.3925/40 area.
On the short-term charts, it looks as though we may do a little right shoulder action for a potential head and shoulders top…
We have to assume central banks will continue to diversify reserves on dips so long as oil remains anywhere in the $100 region….
