The pair is now trading below the 1.0076 level after following through lower on its Wednesday weakness in early trading today. This development has halted its recovery higher and turned risk lower towards its daily 50 ema at 0.9974 with a violation of there allowing for more declines towards the 0.9831 level, its Jan 20'2011 low. Below there will extend declines towards the 0.9804 level, its Jan 11'2011 low where a halt is expected. Its daily RSI is bearish and pointing lower supporting this view. On the upside, a return above the 1.0197 level, its Feb 04'2011 is required to end its present bear threats and bring more gains towards its 2010 high at 1.0253. A break will resume the pair's long-term uptrend and open the door for further gains towards the 1.0300 level and then the 1.0400 levels.

 /