Thoughts on FXI and the 35.80 level

Been watching $FXI closely this week. That 35.80 level, which was a pretty solid resistance through early January, seems to be acting as support now. We bounced nicely off it yesterday and held it again today, even with the intraday low touching 35.82. I'm wondering if we're seeing a flip from resistance to support here, which could set us up for a retest of the high 36s. The risk I'm weighing is a clean break below 35.80 on decent volume; if that happens, especially intraday, it invalidates this support thesis pretty quickly, and we're likely looking at a move down towards 35.50 or even lower. Just my read, always open to being wrong.