THE TECHNICAL STANDPOINT: Price should continue to oscillate around the current level until all the buyers have been exhausted. The prudent trader will allow the to start to show a sell pattern. Once the swing point is established then risk can be measured and an adequate trade can be placed. For now the smart thing is to anticipate this level to be respected.
Positively correlated markets including Dollar Index and UUP Stock are among the favorites to trade this idea. However the impact of this move will be felt in every market under the sun.