While the pair may be facing bear threats on an attempt to strengthen further in early trading today, it continues to hold on to its short term uptrend. This leaves upside risk towards the 0.9292 level, its April 06'2011 high. Further out, resistance stands at the 0.9340 level, its April 01'2011 high and possibly higher towards the 0.9400 level. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, on any pullback, the 0.9180 level will come in as the next downside target with a turn below there aiming at the 0.8928 level, its Sept 12'2011 high. A reversal of roles as support is expected to occur here but if that fails, its Sept 15'2011 low at 0.8647 level will be aimed at. Below here if seen will if pave the way for a move further lower towards the 0.8574 level. All in all, the pair remains biased to the upside despite its present price hesitation.
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