What i see there is, that spread is in downtrend, after resistance and long test 13/10/14. At monthly chart heavy downtrend. Recently occured rebreak of short down (unlike in trend reversals in 2001 and 2009 - green arrows), shortterm momentum broke down too. If spread will fall under 1.5, then very long support could be tested again and probably broken this time, target 1.2.
Another chart not supporting the selloff in DAX .