Downside movement might be over during today or tomorrow trading day. Oscillators indicate extremely overbought prices. As a support we can take a quite strong level 1.6280 that coincides with the support level of the daily price channel and the Fibonacci correction level 61.8. Thus, we might expect a rebound today. We can only be sure about a reverse of the price in the bullish direction after the resistance level of the local price channel is broken.
