Even though you can make an argument that the current price is within the middle of a very broad range, the fact that there is a reversal zone boundary nearby carries more weight. Understanding context is what allows me to see the greater chance of a retrace in this area.
Any retest of the low 1.3900s or 1.3880 area is the prime area to watch for reversal signals such as a , or pattern, etc. The nearest resistance serves as a reasonable swing trade target. 1.4095 is the .382 of the current swing and offers an adequate target if a long signal is taken. Keep in mind, a trade setup is not complete unless a trigger and stop are defined and at this point neither are clear.
If price continues through the reversal zone boundary, I would avoid any swing trade longs until stability returns to this market. Remember the bigger picture ( chart is on S.C.) implies weakness which means long trades offer less potential in my opinion. More detailed analysis to follow in the analysis area of S.C.