I should notice this setup yesterday but its not late.
Here is the textbook theory:
1) Prices is on clear downtrend
2) Prices breaks an important area of S/R and retraces inmediately within 3 candles
3) There is divergence on histogram and moving averages on
4) Risk/Reward ratio: at least 1 to 2
Lets see what happens
Looking at W1 chart, the 1.5955 level is the last two weeks support (not currently week).
After that, looking at monthly chart, there are many touches, but i can remark the 1.5955 level as support almost to the pip in Feb-March-April and June 2011.