Despite yesterday's selloff to 1.3460, subsequent rebound to 1.3580 on short-covering suggests further choppy consolidation inside the established broad range of 1.3443-1.3693 would continue, however, as long as 1.3555/65 resistance holds, another decline is still likely but breach of 1.3443 needed to confirm medium-term downtrend has finally resumed for further weakness to 1.3405.   
  
On the upside, a breach of 1.3655/65 would signal another leg of corrective rise from 1.3443 has taken place and bring re-test of 1.3693 resistance, above would bring further gain to 1.3730/40.