Despite last week's selloff to a 14-month low of 1.2510, subsequent strong rebound due to short-covering and the EU and IMF nearly $1 trillion emergency package confirms a low is indeed made there and conoolidation with upside bias would be seen for a strong retracement of MT downtrend from 1.5145 and above 1.3000 would bring further gain to 1.3050 n then twds 1.3100/10.     On the downside, only a breach of last Friday's high of 1.2799 would prolong choppy trading and risk stronger pullback, however, aforesaid low is expected to remain intact.