The pair has been enjoying its up trend from 0.87 levels. It rallied towards the 61.8 fib level exactly. We recommend to go short with sl 0.8990 on a closing basis, cmp 0.8968. The daily oscillators favor this view. In the up front, if the pair is able to cross 0.8990 on a cb, it will extend its rally towards 0.9050 levels, but the chances are remote. We expect the pair will go through a healthy correction up to 0.89, 0.888, 0.8876 and 0.8857 levels. On the down side, it has strong support at 0.8851 levels.
For intraday view, the pair looks weak below 0.8960 levels, it will fall up to 0.8955, 0.8940 levels. A break below 0.8940 it will extend the fall up to 0.8914, 0.888 and 0.8874 levels.
