DOLLAR (Update)

We got a bearish engulfing pattern on 5/19 in an area of stiff resistance.  We have seen some follow through selling the next two days.  Friday saw a close below the 20 DMA.  We have an upward sloping trendline and the 50 DMA coming up to offer some support.  We are currently at a crossroads in this market.  Will we retest the recent highs or continue lower.  I wouldn't be surprised to see a retest at some point, but the last 3 days has seen strong selling.  The 78.60% retracement zone will probably need to be tested before any significant downward moves are made.  We can also look for some potential areas to get long on this pullback.

Possible support zones:
Zone 1:  85.25-85.40  current zone
Zone 2:  84.60-84.80
Zone 3:  83.80-84.05
Zone 4:  82.75-83.00