This pair is slowly ticking lower but has been unable to close below the 1.3015 weekly level. Once we get a clean break and close below this level on a daily time frame we will look for shorts. We have to be patient with this as the MA's are in bearish
territory on the weekly and daily timeframes, as well as the weekly bearish
fib play. This level is holding but it seems as though short term buys in this area have been nearly exhausted.