on the weekly chart you can clearly see an upward trend started in July 2012, can be considered a primary trend now we are in a downtrend that is nothing but a strong retracement with a first support at 1.34 (50% fibo)
and the other 1.32 (61.80% fibo) there is a good chance that prices could even reach 1.32
and the other 1.32 (61.80% fibo) there is a good chance that prices could even reach 1.32