Price has come back to retest the resistance level that was broken Jan 28 and we currently see a bounce off the Weekly pivot point/Daily S1 confluence level at 1125. Next resistance in the intra day pivot point at 1185. Bulls would like to see a close above this level for a start. But as long as price trades above the trendline marked on the right chart the pair is looking constructive. A close below this trendline and chances are we will see more losses. If price breach the Daily pivot point, next up is the high at 1240 and above that the 1275 S/R level.