Bearish: Currently we are @ 1.6269. We have convergence to the downside on the 60-minute chart. IF we can break the significant support, we are looking to continue to the ATR target @ 1.6100 area and then later a continuation to the Day chart bottom @ 1.5974. We expect a bounce there. The average true range (ATR) for the pair currently is 215 pips per day.