If we break orange line, then we will test that bottom, most likely bounce and reverse back to 1.16 range. The big issue is that the trend isnt done, so the play is a short, but on the other hand, we are way low on Stochrsi, the overall notion is that US is growing but the PPP shows the price needs to be higher. Interest rate parity says that US inflation is growing faster than Eurozone, so we are play cat and mouse trying to get to our correct forward rate.