The pair is now seeing weakening following a stall in its recovery strength. However, the pair's bottom forming process still remains intact as long as it can hold above the 0.9071 level and its 200 daily ema. This could see the pair return to its Wednesday high at 0.9331 level with a break of there opening the door for a move towards the 0.9299 level, its Feb 16'2012 high. Further out, the 0.9504 level, its Jan 13'2012 low and then the 0.9591 level will come in as the next upside targets. Alternatively, the risk to our upside view will be for the pair to reverse its present bull pressure and then retarget the 0.8929 level, its Feb 24'2012 low. In such a case, the 0.8890 level, its Nov 03'2011 low will be aimed at where a breach will call for further declines towards the 0.8700 level, its psycho level. On the whole, the pair remains biased to the upside on correction.
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