after the market violated 1.724 level it approached 1.75 level, this level was previously approached in January and the market immediately retraced.
now we see a similar picture: a strong bullish impulse to 1.75 level and then market started to "coil" in a small parallel channel. Now we see a clear bearish violation of a support level and retest of the broken structure.
I will anticipate bearish continuation to 1.725 level. Lets see how the market will react on this level.