Price has reached the 38,2 fib resistance of the large 2002-2008 bearwave. Considering that a recent bullish kumobreak is in play along with strong bullish momentum, shown by the faster CD leg in the AB=CD pattern, may put in question any respect of this level (1,1775). Also 1,1625, the 61,8 of CD leg was breached without hesitation, points to a completion of the ABCD pattern at 1,2240. If price starts to retrace from the 1,1775 level, a natural support is found by the 1,1630 level.