The pair has resumed its short term bullishness cutting through its key resistance at the 1.0384 level in early trading today and opening the door for a run to the upside.This development now leaves the 1.0508 level, its Sept 05'2010 high as the next upside target with a breach exposing its Aug'2010 high at 1.0671. The bigger barrier lies at 1.0852 level, its May'2011 high. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at 1.0384 level where a reversal of roles is likely to occur and turn the pair back up. Other supports are located at the 1.0255 level, its Sept 29'2011 low and the 1.0144 level, its Sept 27'2011 low. Below here will expose its .382 Fib Ret (0.8724 - 1.0384 levels) at. All in all, having resumed its short term uptrend, the risk is for further upside gains to occur in the days ahead.
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