In the short term, I see a bit of consolidation around the 1.1070 and 1.1080 Range. I would like to see a breakout to retest the resistance of 1.1100. With a bearish trend in mind, I think the this pair will likely retrace far enough into a minor resistance zone to give sell scenarios at 1.1108,1.1116, and 1.1122. Targets for a short would extend to the 1.1009 level which corresponds with a major support zone. A break above 1.1139 would likely see resistance towards 1.1165 before continuing down towards liquidity experienced on January 3rd.