Key Euro level

So I just put together a chart with a key level of interest for the last couple of months. I'm not so sure we'll be visiting it again very soon or anything like that, given that it looks like Greece might be giving up on the referendum idea and accepting the EU aid deal, which I think the markets would perceive as a positive move for the Euro, and maybe invite the risk-on attitude back. One level which has seen sustained action in the last two months however is this area of 1.3650. As you can see on the chart below as we came off the August consolidation (300 pip range consolidation, however), we broke downwards all the way to the 1.31x region of the chart. Now, before this happened, the PA suggested some stiff support in the 1.36 to 1.37 area with a good deal of confluence around the 1.3650 area. After finally breaking down, and finding support around 1.3475 price rebounded up and was rejected twice at this level again before finally tracking down to the lows on the chart. Here, the pair finally rallied up and after breaking the 1.34 psych level, rocketed up 200 pips very quickly, but again finding resistance at 1.3650 where price was stalled in a tight range. Finally a breakout to the upside pushed the pair up another 300 pips, and we found another double rejection at this level provided a huge move upwards to the recent highs of 1.42. We've since retraced all the way back down towards this level and have seen another double rejection at this level in only the last week or so. This double rejection, if fueled by some very good news out of the EZ and some risk-on appetite out of investors, might push us back up again. We currently closed on a bullish candle for the day, and I've seen some sites quoting higher-than-close prices on the Euro after the Greek confidence vote. One good question in this case is if we do see more upside movement where will the top be? My thought is that if we actually manage to break the 1.3850 level convincingly, we might see the 1.3970 level again which is where I've placed my sell limit and my buy stop just above the aforementioned level. Another move down gives us a third test of the 1.3650 level which could offer some consolidation or act like a rubber band in either direction if enough buyers or sellers enter the mix. My guess is whatever investors are long on this pair at the moment, probably have a good deal of stops below this level.

Another thing to note is that the price action off these most recent bounces seems to be stalling at levels lower than the previous bounces in the early to mid days of October. If we manage a break south of 1.3650, this might give incentive to go short on the pair, in which case my stop level would more than likely be just above the 1.370 area.