Thanks indeed Phaedrus. I am wondering if I have been taking too shorter term view. MFT has clearly broken the uptrend in which it has been for the last twelve months, and could also be viewed as having traded in a rectangle (which I believe is bearish). It is also interesting to note that the resistance at 1.95 once broken became a level of support that it has just broken back through. (Apologies for my chart being a few days old).

Obviously, from a TA perspective, and from the longer term chart you posted it seems entirely reasonable that it may fall back. It would be interesting to hear from a fundamental perspective as to whether there is upside possibility (given that at least one broker sees possibilities in it).