Risks do look skewed towards a test of the lows of the recent range with notable support/pivot points to watch from here; 1.4010 (200-dma), 1.3939 (uptrend from the June ’10 low) and 1.3837 (the interim low from 12th July). Friday’s NY close was below 1.4327 as this caused a bearish weekly reversal from the highs of the recent range. The last time a similar pattern was posted was from the May highs. In line with the bigger picture, weekly and monthly charts, the biggest risk does seem to be a break lower from the broad range in place over recent months
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