Having rallied strongly and closed above the 0.9631 level, its July 18'2011 and the 0.9772 level, its July 12'2011 high the past week, we are looking for further bull pressure to continue in the new week. This development if seen will leave the pair targeting the 0.9911 level, its July 27'2011 high. We may see a price hesitation ahead of or at that level but if eventually taken out, its Mar 15'2011 high at 0.9969 will be aimed at and then the 1.0056 level, its Jan'2011 high. Its weekly RSI is bullish and pointing higher suggesting further upside gains. On the downside, the risk is for the pair to end its present recovery attempt and open the door for the resumption of its long term weakness now on hold. In such a case, further weakness will develop towards 0.9404 level with a violation of there turning threat towards the 0.9300 level and then the 0.9200 level, all representing its psycho levels.

"Weekly