The pair continues to weaken turning lower below the 0.9421 level, its July 2012 low to close the week at 0.9271 level. This leaves the pair aiming at the 0.9193 level, its May 07'2012 low on further declines where a violation could force more declines towards the 0.9100 level. A breach of here will aim at its major psycho level at the 0.9000 level. Its weekly RSI is bearish and pointing lower supporting this view. The alternative scenario will be for the pair to initially return above the 0.9421 level and then the 0.9655 level. This if seen should open up further upside towards the 0.9808 level. Further out, resistance resides at the 0.9970 level. On the whole, the pair remains biased to the downside in the short term.
Most Popular Slideshows
- Australia Bids Adieu to Adam Spencer's Mornings on ABC's "702 Breakfast" Show [PHOTOS]
- Top 10 Hottest Celebrities with Shocking Weight Loss (And Find Out Their Secrets!) [PHOTOS]
- SEE PHOTOS! Eva Longoria Wears No Panties at Cannes 2013, Revealed in Embarrassing Wardrobe Malfunction [SLIDESHOW]
- Demi Lovato Snapped Getting Flirty with The X-Factor Boss, Simon Cowell? [PHOTOS]