Though seen hesitating following its weakness off the 1.3197 level, its Dec 21'2011 low, its broader bias continues to point lower in the medium term. This suggeststhat an eventual return to the 1.2945 level, its Dec 14'2011 low could occur with a cut through that level turning focus to the 1.2874 level, its Jan 2011 low followed by the 1.2587 level, its Aug 2010 low. Alternatively, the pair will have to break and hold above the 1.3197 level followed by the 1.3212 level, its Nov 25'2011 low to reduce its broader medium term downside pressure. This will bring further gains towards the 1.3419 level, its Nov 17'2011 low and then its 1.3547 level, its Dec 02'2011 high. Further out, the 1.4241 level, its Oct 27'2011 high and the 1.4342 level, its daily falling trendline will come in as the next upside targets. All in all, the pair continues to hold on to its medium term downside bias despite its current price hesitation.