It even just begun.
This would be the 50% retracement of the upwart movement since 7th November. I am reluctant to say: Yes, this is the target. But frankly speaking, I'm hoping on this, exactly. The 38.2 retracement however is a support, as it is the former double top of August 2013. So one can consider a first target of around 1.50 and a second at 1.48.