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High:  Low: 

Although we are in a scenario this year with higher lows, the recent downtrend since early July is putting heavy pressure on further downside. So far this week, the pair has not touched the 100-week SMA which acts as an important resistance. Daily, we could soon see a test of trend support from February 2013,where a break of this would open up for a test of August lows at 0.9174 and then wave lows at 0.9130. Upside, we need to close back above the 76.4% Fibo retracement in the recent wave at 0.9280 initially.