With a failure to sustain its intra day strength pushing it to a marginal close on Monday, the pair is now facing a bear pressure and looks to convincingly break the 0.8858/69 levels. This zone is layered with a lot of supports and should reverse roles and provide support thereby turning the pair higher again. However, if a convincing violation of there materializes, we could see further weakness towards the 0.8736 level and then the 0.8632 level, its July 19'10. Conversely, above the 0.9219 level is required to halt current downside pressure and open the door for further up move towards its May 04'10 high at 0.9265 with a decisive break of that level clearing the way for more recovery towards its April 21'10 high at 0.9337 and then the 0.9404 level, its Nov'16'10 high.
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