The pair remains biased to the downside and now looks to return to the 0.8929 level, its Feb 24'2012 low. Further down, the 0.8890 level, its Nov 03'2011 low comes in as the next target where a breach will call for further declines towards the 0.8700 level, its psycho level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to return above the 0.9334 level, its Mar 15'2012 high to resume its recovery. This will pave the way for a run at the 0.9504 level, its Jan 13'2012 low and subsequently the 0.9591 level. On the whole, the pair remains biased to the downside with eyes on the 0.8929 level and beyond.
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