There is a monthly resistance line at 1.7000. This line is still holding but will break soon. Price has moved way past the 50 MA and created a new high. We got a double top Friday of last week and yesterday we couldn't make a new high. Also today we got a large bearish engulfing. Price should continue down till the 50%FIb. Short at 1.6900, stop loss at 1.70450 and take profit at 1.68900.