The pair is likely to extend gains towards USD 1.2650 in coming 5 to 8 months. Prices have turned down sharply after testing resistance of USD 1.1860 and approaching the previous low of USD 1.1716. A sustained break below USD 1.1716 shall turn the prices further weak towards USD 1.1660 ahead of turning higher(Blue Line Projection). An early break above USD 1.1815 shall mark that short term bottom is placed and prices will be heading towards USD 1.2090(Red Line Projection).