The pair is trading within a bigger sideways corrective structure since July'13 which is likely to continued in the coming weeks. 0.9370 is a crucial support level to watch out for as a sustained breach below the same shall prompt further weakness in the long term.(Red Line projection)
If the support of 0.9370 holds then another upside pullback towards 1.03 is likely to be seen ahead of turning down.(Dotted blue line projection)
If the support of 0.9370 holds then another upside pullback towards 1.03 is likely to be seen ahead of turning down.(Dotted blue line projection)