While the reversal of part of its corrective weakness has turned the immediate risk to the upside, a convincing violation of the 0.8885 level, its Aug 10'2011 high is required. If this is seen, expect further bullish offensive towards the 0.9082 level, its Jun 01'2011 high. A firm break above here will open the door for further strength towards the 0.9150 level, its Feb'2010 high. Its daily RSI is bullish and pointing higher supporting this view. On the downside, the risk to our analysis will be a break below the 0.8730 level traded on Aug 12'2011. Further down, support lies at the 0.8643 level followed by the 0.8610 level, its May 26'2011 low and subsequently the 0.8532 level. All in all, though attempting a recovery, bear threats remains a concern.
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