With a reversal of its one-day gain seen on Thursday, the risk of further weakness has turned to the 1.3837 level, its July 12'2011 low. A decisive violation of there will set the stage for a move further lower towards its Mar 06'2011 low at 1.3751. Its daily RSI is bearish and pointing lower supporting this view. Alternatively, resistance stands at the 1.4283 level, its Sept 06'2011 high where a break will bring further upside gains towards the 1.4325 level, its trendline resistance. A turn back lower could happen here but if this fails to occur, further strength should build up towards the 1.4550 level where a breach will aim at the 1.4696 level, its Jun 07'2011 high and next the 1.4938 level, its 2011.

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