We are caught up in the same previous range 0.7230-0.7150 that we found a home in throughout December, the breakout of the range resulting in a free fall below 0.7020 and led to new Yearly lows being created at 0.6980 (discounting the flash crash) so with history being on our side a drop below 0.7120 could be sufficient enough to entice money into the shorts and we could see 0.7050 tested as a minimum. Naturally if 0.7220 is broken then a long position up to 0.7320 would be very easy pickings.