Bearish: We are currently @ 1.4102 in a channel and in a reversal. CPI numbers very positive should act as a catalyst. We are looking for an initial move to the ATR Target @ 1.4053 area. A further target is the 0.382 Fibo @ 1.4022. Watch the USDX for any change in direction. The ATR for the pair currently is 94 pips per day.